As an analyst with over two decades of experience in the financial sector, I find Chris Larsen’s perspective on the crypto landscape and political landscape fascinating. His life experience as one of the co-founders of Ripple(XRP) has provided him with unique insights into the digital asset industry, especially during its formative years.
Chris Larsen, a co-founder of Ripple, expressed his confidence that Vice President Kamala Harris would be capable of addressing what he perceives as the missteps in the Biden administration’s strategy regarding cryptocurrencies.
During an interview with CNBC on October 29, Chris Larsen, one of the co-founders of Ripple (XRP), shared why he donated over $11.8 million to political action committees backing Vice President Kamala Harris’s presidential campaign. He expressed his conviction that Harris would adopt a distinct stance on digital assets compared to Biden.
Larsen expressed strong confidence that this new strategy for digital assets will mark a significant departure from the policies that didn’t work out in the Biden administration.
He stated that the Biden administration simply “outsourced” digital asset handling to Senator Elizabeth Warren, the politician most known for fueling the anti-crypto rhetoric. Thus, leading to what he calls the “war on crypto” that ultimately held America back from leading the crypto industry on the global scale.
“I think everybody has realized that was a huge mistake. That just resulted in giving leadership to Singapore and London, which should have been in the US. It didn’t protect consumers, it allowed sketchy foreign operators like FTX to rip off consumers,” said Larsen.
As a crypto investor, I’ve been told by trusted sources within the political sphere that the upcoming Harris administration is likely to be supportive of technological advancements. Contrastingly, I’ve heard from the same circles that Joe Biden might lean too heavily against business ventures, which could potentially impact our investment landscape.
It’s true that Larsen acknowledges a significant number of cryptocurrency supporters are backing Republican nominee Donald Trump because of his robust pro-cryptocurrency standpoint. However, he also thinks that both political parties have been advocating for pro-cryptocurrency policies during their election campaigns.
Larsen stated, “Regardless of who wins the U.S. election, be it a Republican or a Democrat, there’s bipartisan backing. I believe the fight against cryptocurrency is coming to an end. We aim to motivate politicians who are supportive of digital assets.
When queried if he believes Harris has the potential to unseat SEC Chair Gary Gensler, much like how Trump pledged to backers of cryptocurrency, he responded by stating that it ultimately depends on Harris’s own actions or decisions.
Despite labeling Gensler as “the most problematic public servant our country has seen,” he made it clear that, as a contributor, he should not influence such decisions. Known for his firm position towards the cryptocurrency industry, Gensler often states that the sector is riddled with speculation.
“To put it mildly, I believe Gary Gensler has proven to be a disappointing public servant for our nation. His actions have caused significant harm to our country. However, we should exercise caution in our evaluation,” said Larsen.
Based on an August 2024 report by Washington Reporter, unconfirmed whispers suggested that Harris might appoint Gensler as Treasury Secretary should she secure victory in the November election. These speculations stirred up criticism within the cryptocurrency sector, even though their validity remains uncertain.
On October 21st, Larsen generously contributed more than $10 million in XRP to both the Future Forward PAC and the Harris Victory Fund, demonstrating his backing for Kamala Harris in the U.S presidential race. This substantial donation, added to the $1 million he had already given earlier in the month to Future Forward USA, has positioned Larsen as one of the most significant crypto industry benefactors during this election period.
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2024-10-29 15:51