Chris Larsen's Endorsement of Kamala Harris May Impact Ripple's Future

Chris Larsen, the co-founder of Ripple Labs (XRP), has publicly supported Vice President Kamala Harris for the 2024 US presidential elections.

Chris Larsen, the co-founder of Ripple (XRP), has officially endorsed Vice President Kamala Harris for the 2024 US presidential elections. Larsen signed the letter with 88 other business leaders, a significant move in the tech and crypto industry in the United States.

These developments are important for Ripple and the overall cryptocurrency market, especially XRP, which is currently facing a lawsuit against the U.S. Securities and Exchange Commission (SEC).

Tech Leaders Back Kamala Harris in 2024 Campaign

Larsen's endorsement, along with other leading technology executives, shows the strong involvement of the tech industry in the 2024 US presidential campaigns. Other corporate executives who supported the letter include Yelp CEO Jeremy Stoppelman, Box enterprise cloud company CEO Aaron Levie and Snap Chairman Michael Lynton. This collective support demonstrates how the business community is becoming more engaged in shaping the political landscape and policy agendas.

Chris Larsen's political activism may indicate a desire for more tech CEO engagement with regulators, aiming to establish clear regulations in the tech space. Given Ripple's ongoing legal battle with the U.S. SEC, this move could signify a preference for pro-crypto policies.

Larsen's Endorsement May Impact Ripple's Future

The connection between Ripple and Kamala Harris's campaign has implications for the future of XRP and the crypto market. With the ongoing XRP lawsuit regarding its status as a security, this endorsement from a political figure carries potential significance. The outcome of the 2024 election will be crucial in determining Ripple's next course of action in the market.

Moreover, the inclusion of Gene Sperling, a former Ripple board member, in Harris's campaign team further strengthens the link between Ripple and the political scene. Sperling has held economic policy positions under several U.S. presidents and joined Harris's campaign following his time in the White House. These political affiliations may inadvertently influence Ripple's legal approach and policies.

While Larsen's endorsement may suggest a desire for regulatory approval, if Harris's administration proves to be more crypto-friendly than the previous one, it could be beneficial for XRP. However, it's important to note that opposition from regulatory bodies, such as the SEC, may persist regardless, given the unpredictable nature of election outcomes.

Garlinghouse Predicts SEC Changes Post-Election

Interestingly, this is not the first instance of cryptocurrency industry representatives gaining political influence. David Plouffe, an adviser to Binance and Alchemy Pay, has also joined Harris's campaign. Thus, the crypto industry is expanding its presence in the U.S. elections.

Sperling's decision follows that of former Ripple board member Gene Sperling, who left state house positions to join Harris's campaign. This showcases and reinforces the interconnectedness between crypto insiders and political campaigns.

Ripple on XRP Price

In other news, Ripple CEO Brad Garlinghouse has predicted that the current SEC Chair Gary Gensler will resign after the election, regardless of the outcome. This comes as Ripple's legal troubles have significantly impacted the XRP price, causing it to fall below the 3% mark and currently trading at $0.5303.

However, an opportunity may arise in Harris's presidency for a different approach to cryptocurrency regulation. Despite such partnerships, whether they will lead to improved crypto laws and regulations remains to be seen.

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