Ripple’s Political Stance and Bipartisan Support
Ripple’s CEO, Brad Garlinghouse, has reiterated the company’s commitment to fostering a bipartisan approach in the evolving landscape of cryptocurrency politics as the US elections approach.
Strategic Collaboration Across Political Lines
In a recent post dated October 21, Garlinghouse expressed Ripple’s determination to work collaboratively with both Democratic and Republican members to push for pro-crypto legislation. He noted that the focus should not be on party lines but rather on supporting policies conducive to innovation in blockchain and cryptocurrency.
Critique of Current Presidential Policies
Garlinghouse has also pointed out the necessity for a shift away from what he perceives as President Joe Biden‘s ineffective stance on cryptocurrency.
The Voter’s Voice on Digital Assets
Highlighting the growing importance of digital assets in the electoral landscape, he stated:
“Voters care about crypto – they care about XRP – it’s not a niche issue. They want real policies that drive innovation and create jobs. Candidates that ignore crypto and blockchain risk serious losses from a growing, informed voter base.”
Ripple’s Financial Contributions to SuperPACs
Garlinghouse’s remarks coincide with Ripple’s significant financial contributions to super political action committees (SuperPACs) advocating for pro-crypto candidates. In the past year, Ripple has committed nearly $50 million to the Fairshake SuperPAC, which supports candidates across political parties who promote cryptocurrency initiatives.
Recent Donations and Implications
$10 Million XRP Donation by Chris Larsen
Following this, a notable event occurred when Ripple co-founder Chris Larsen made a $10 million donation in XRP to support Vice President Kamala Harris‘s presidential campaign.
Advocacy for a Pro-Technology Democratic Party
In a post on X, Larsen articulated a vision where he believes the Democratic Party should embrace innovation and technology, particularly in the realm of cryptocurrencies. He expressed confidence in Harris’s capacity to ensure the U.S. maintains its technological leadership if elected.
“I believe Kamala Harris will ensure that American technology dominates the world, which is why I’m donating $10 million in XRP in support of her.”
Community Reactions to Donations
Despite good intentions, Larsen’s donation has sparked backlash within the crypto community, which generally leans toward Republican candidates, including Donald Trump. Venture capitalist Nic Carter has publicly questioned the rationale behind Larsen’s support of a Democratic candidate.
