Chris Larsen, co-founder of Ripple, has made headlines by donating a substantial $10 million in XRP to support Vice President Kamala Harris in her 2024 presidential campaign.

With this latest contribution, Larsen's total donations to PACs supporting Harris have surpassed $11.8 million this election cycle, including a previous $1 million donation in August.

This positions Larsen as the leading supporter of Harris within the cryptocurrency sector as she prepares to face off against former President Donald Trump.

The crypto industry has emerged as a significant force in political fundraising, with nearly half of corporate donations this election cycle coming from this sector.

In fact, the 2024 election cycle has seen political donations from the crypto industry reach around $190 million, with over $130 million already allocated to congressional races.

Crypto-backed Super PACs are actively supporting candidates from both major parties as the presidential race tightens between Harris and Trump.

Future Forward USA, the Super PAC backing Harris, has raised over $200 million to bolster her campaign against Trump, who has made controversial remarks regarding Bitcoin and crypto policy.

Larsen has expressed a desire for Democrats to adopt a fresh approach to tech innovation, particularly in the crypto sector, should Harris win the presidency.

Larsen, who has a net worth of $3.1 billion largely due to his ownership of XRP and his role in Ripple, underscores the growing influence of the crypto industry in political landscapes.

Federal Election Commission records reveal that Larsen has previously donated $1.75 million to Future Forward and has contributed hundreds of thousands to Democratic congressional campaigns.

Notably, Larsen's donations are directed primarily to super PACs, which can accept unlimited contributions for independent expenditures supporting candidates, following the Supreme Court's 2010 Citizens United ruling.

Despite his support for Harris, Ripple and its CEO Brad Garlinghouse have also contributed to Republican efforts, including donations aimed at defeating Senator Elizabeth Warren, a known critic of crypto.