Kamala Harris's 2024 campaign received a $1 million donation in XRP from Ripple co-founder Chris Larsen, Federal Election Commission records reveal. This is the first known cryptocurrency donation to her campaign, intensifying debate about the administration's position on digital assets and blockchain innovation.

Ripple Co-Founder Donates $1M in XRP to Harris Campaign

The Harris-Walz 2024 Presidential campaign received 1,754,815.29 XRP, which was valued at $1 million when donated, according to records from the Federal Election Commission (FEC). Larsen is a co-founder and executive chairman of Ripple.

First Known Crypto Donation to Harris Campaign

The donation was made to the pro-Harris Future Forward PAC on August 14, 2024, according to FEC records. This is the first known cryptocurrency donation to Harris's campaign, says Fox Business correspondent Eleanor Terrett.

In September, a representative from Future Forward confirmed to Cointelegraph that the Harris PAC was receiving cryptocurrency contributions in response to rumors that the campaign was taking such payments directly.

Future Forward PAC Receives $200M in Contributions

As of October 2024, Future Forward had received contributions totaling over $200 million, as reported by the FEC.

Business Leaders Endorse Harris’s Economic Policies

In a letter sent to Harris in September, the co-founder of Ripple Labs and eighty-seven other business leaders said:

"With Kamala Harris in the White House, the business community can be confident that it will have a President who wants American industries to thrive."

As an additional point, the letter's signatories stated that "Vice President Harris has a strong record of advancing actions to spur business investment in the United States."

Crypto Industry Leaders Push for Policy Changes

At the same time, a coalition of crypto industry groups and executives declared their intention to donate $100,000 to the Harris campaign in the hopes of influencing the Vice President's position on US digital asset policy.

Executives in the crypto business thought that Harris would reverse her administration's anti-cryptostance after receiving the donations, according to Cointelegraph.

Harris Addresses Crypto Policy Following Pressure

Harris ultimately spoke out about crypto policy for the campaign after receiving pressure and outreach from the sector. In late September, this was the response from the Harris campaign:

“We will partner together to invest in America’s competitiveness, to invest in America’s future. We will encourage innovative technologies like AI and digital assets while protecting our consumers and investors.”

Administration’s Position on Crypto Remains Unchanged

Still, the administration's current position remained unchanged in the statement. Some of the words used in the answer were taken virtually word for word from a statement that the Biden administration had previously issued in May of 2024, just before they vetoed the bipartisan repeal of SAB-121.