Ripple co-founder backs Kamala Harris alongside 87 other executives

The list obtained by CNBC also includes crypto-friendly billionaire Mark Cuban and executives from Yelp, Snap, and Box.

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Key Takeaways

Chris Larsen, Ripple co-founder, signed a letter with 87 corporate leaders supporting Kamala Harris's campaign. Harris's campaign launched "Crypto for Harris" initiative, seeking support from the crypto community. <?xml encoding="UTF-8"?>

Vice President Kamala Harris just got endorsed by a new crypto executive. Chris Larsen, co-founder of Ripple, signed a letter along with 87 corporate leaders supporting the Democrats’ representative campaign in the US presidential election, as reported by CNBC.

Crypto-friendly billionaire Mark Cuban is also on the list, along with Dan Schulman, the former CEO of PayPal, Bruce Heyman, the former managing director of private wealth at Goldman Sachs, and the executive officers of Yelp, Snap, and Box.

Display of force

According to CNBC, the letter’s content contrasts with the long list of signers, making quick mentions to support “continued strength, security, and reliability” in the US by electing Harris.

The reason for this discrepancy is that the letter serves as a display of force for Harris, instead of an effort to convince the public to vote for the Democrat.

Ramping up crypto support

Harris’ campaign started reaching out for support from the crypto community in early August, with the launch of the “Crypto for Harris” effort. 

Since then, this new Harris banner started organizing virtual meetings with industry players and political figures, resulting in open support from Democrats’ top voices toward a friendly approach to the crypto industry, with Senate Majority Leader Chuck Schumer stating that a crypto regulation bill is possible under Harris’ term.

Crypto for Harris also garnered support from crypto-friendly figures such as Mark Cuban and executives from crypto exchange Coinbase. Coinbase’s Chief Policy Officer (CPO) Faryar Shirzad confirmed that Harris’ team’s approach to crypto innovation has been constructive. 

Moreover, Coinbase Chief Financial Officer (CFO) Alesia Haas revealed that Harris is using Coinbase Commerce to accept crypto donations during Citi’s 2024 Global TMT Conference in New York, as reported by Fortune.

Nevertheless, Harris’ campaign hasn’t confirmed these claims by Coinbase executives, and her official fundraising site doesn’t have any sign of Coinbase Commerce implementation.

Countering Trump’s efforts

The efforts by Harris’ campaign to show a constructive approach towards crypto in the US is a clear countermeasure against former US President Donald Trump’s positive tone in his remarks on this industry.

Since May, Trump has been preaching to end the hostility against crypto in the US, to address this industry with a “very positive and open mind,” and he will fire US Securities and Exchange Commission Charmain Gary Gensley on his first day in office if elected.

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