Prominent members of the cryptocurrency community are calling for a boycott of XRP following criticism of Ripple Chairman Chris Larsen’s monetary donations to Kamala Harris’s presidential campaign.
Larsen, who is the co-founder and chairman of Ripple, has significantly increased his financial support for Harris’s campaign. In a recent development, he donated $10 million worth of XRP to her campaign fund, following a previous donation of $1 million just two months ago. In total, Larsen has now contributed over $11.8 million to Harris’s campaign efforts.
The reaction to Larsen’s donations has been mixed. Some see it as a political move that deviates from the core mission of XRP. Mike Alfred, a well-known value crypto investor and board director, disapproved of Larsen’s contributions. He emphasized that there is no excuse for market participants to own or support XRP, given Larsen’s continued financial support for Harris’s presidential ambitions.
This disapproval was echoed by Layah Heilpern, a user on the X platform, who criticized XRP’s leadership for “dumping” on their community to support what she describes as “Marxist” politicians. Ryan Selkis, the founder of the analytics platform Messari, even declared XRP “dead” in light of the financial support for Harris’s presidency. This sentiment is widely shared within the crypto community.
It is worth noting that Larsen’s involvement in Harris’s campaign started earlier this year with a $6,600 donation. These initial contributions set the tone for a consistent pattern of financial support from other backers towards Harris’s campaign. Notable contributions include $10 million each from Dustin Moskovitz, co-founder of Facebook, and the nonprofit Evidence for Impact, as well as $9 million from Illinois Governor JB Pritzker.
Amid the controversy, Ripple’s CEO, Brad Garlinghouse, weighed in on Larsen’s decision. Garlinghouse emphasized that individuals, including Larsen, have the right to support their preferred political candidates. He clarified that Ripple maintains a bipartisan engagement as an organization, advocating for pro-crypto policies regardless of party lines. Garlinghouse also pointed out that Ripple aims to promote policies that foster blockchain innovation, irrespective of political outcomes.
It is important to note that the views expressed in this article are the author’s personal opinions and should not be considered financial advice. Readers are encouraged to conduct thorough research before making any investment decisions, as The Crypto Basic is not responsible for any financial losses.