Prominent figures in the crypto community criticizing Ripple chairman’s monetary donations to Kamala Harris’s presidential campaign have urged market participants to boycott XRP.
Chris Larsen, co-founder and chairman of Ripple, has deepened his financial commitment to Vice President Kamala Harris’s presidential campaign.
In a notable development, Larsen recently
added
$10 million worth of XRP to Harris’s campaign fund. This latest contribution follows a $1 million donation made just two months prior. As a result, Larsen has now contributed over $11.8 million to Harris’s campaign efforts.
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No Excuse to Own XRP
The reaction to Larsen’s donations has been mixed. Some view them as a political move that diverges from XRP’s core mission. Notably, Mike Alfred, a known value crypto investor and board director, disapproved of Larsen’s contributions.
Specifically, Alfred emphasized that market participants have “no excuse” for owning
XRP
or supporting the token in any way, given the Ripple founder’s continued financial support for Harris’s presidential ambition.
https://x.com/thecryptobasic
This disapproval followed a response by X user Layah Heilpern, who criticized XRP’s leadership for “dumping” on their community to support what she describes as “Marxist” politicians.
Alfred’s perception concerning XRP amid Ripple’s chairman’s donation is
widely shared
in the crypto community. Ryan Selkis, the founder of the analytics platform Messari, even
declared
XRP “dead” amid the financial support for Harris’ presidency.
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Early Contributions
It is important to note that Larsen’s involvement in Harris’s campaign began earlier this year with a $6,600 donation. These initial contributions set the tone for a consistent pattern of financial help from other supporters toward Harris’s campaign.
Other major
contributions
include $10 million each from Dustin Moskovitz, co-founder of Facebook. The nonprofit Evidence for Impact also added $9 million, while Illinois Governor JB Pritzker contributed $5 million.
Ripple’s CEO Response
Amid the controversy, Ripple’s CEO, Brad Garlinghouse, commented on Larsen’s decision. Garlinghouse emphasized that individuals, including Larsen, have the right to support their preferred political candidates.
He clarified that Ripple maintains bipartisan engagement as an organization, advocating for pro-crypto policies regardless of party lines. Garlinghouse pointed to the current administration’s stance on crypto regulation, indicating that the company aims to promote policies that foster blockchain innovation regardless of political outcomes.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
