Coinspeaker
US Presidential Hopeful Kamala Harris Gains Support from Ripple’s Chris Larsen and Other Tech Leaders
As the US presidential race heats up, Vice President Kamala Harris has received a significant boost from prominent figures in the tech industry, including executives from the crypto sector.
According to a recent report from CNBC, citing a letter shared with the firm, 88 high-profile business leaders in Wall Street have officially endorsed Harris as the Democratic nominee for the upcoming election. Among these notable supporters is Chris Larsen, co-founder of Ripple, a leading blockchain-based payment infrastructure company.
Ripple’s Diverging Paths
The endorsement, shared exclusively with CNBC, highlights the growing support Harris has garnered from influential corporate figures. Larsen’s backing is particularly noteworthy as he becomes the first major crypto executive to publicly endorse Harris, despite her administration’s mixed stance on the burgeoning digital economy.
In contrast, Ripple’s CEO and fellow co-founder Brad Garlinghouse has remained neutral, choosing not to endorse either presidential candidate. Garlinghouse has focused his efforts on supporting pro-crypto candidates who advocate for regulatory clarity and innovation-friendly policies. In December 2023, he urged crypto industry leaders to rally behind candidates committed to fostering the development of the digital asset market.
To this end, Garlinghouse has donated generously to Fairshake, a US federal crypto-focused political action committee (PAC) that seeks to elect pro-crypto candidates. Since last year, Ripple and Garlinghouse have collectively contributed over $50 million to this cause.
Ripple to Expand Outside the US
His concerns about the US regulatory landscape stem from his belief that it remains inhospitable for crypto businesses due to ongoing legal battles and unclear rules.
Garlinghouse has also advocated for founders to seek opportunities outside the United States, pointing to more favorable environments abroad. According to him, Ripple itself has signaled intentions to expand internationally, eyeing jurisdictions that offer clearer regulatory frameworks for crypto companies.
He also said that Ripple has no interest in conducting its initial public offering (IPO) in the US due to the aggressive regulatory embroidery in the region.
While Larsen and Garlinghouse may have differing political approaches, their influence in the crypto industry remains substantial. Larsen’s decision to back Harris underscores his belief in her ability to lead the nation through a critical period of technological and economic change.
High-Profile Supporters from Across Tech
In addition to Larsen, the letter of endorsement for Harris also includes signatures from some of the most prominent figures in the tech world.
Corporate executives such as Aaron Levie, CEO of Box, Jeremy Stoppelman, CEO of Yelp, and Michael Lynton, chairman of Snap Inc, are among those who have expressed confidence in Harris’s leadership.
Other high-profile supporters include James Murdoch, former CEO of 21st Century Fox, and John Doerr of Kleiner Perkins, a longtime Democratic donor. These leaders share a belief that Harris is best positioned to uphold policies that promote the stability and security of the U.S. economy.
In their letter, the signees emphasize the importance of electing a president who will continue to champion fair and predictable policies, maintain the rule of law, and create a stable business environment.
They believe she will continue to build upon the longstanding “fair and predictable policies that support the rule of law, stability, and a sound business environment” if elected as president this November.
