Ripple Co-Founder Archives - Times Tabloid

XRP Didn’t Care About Jed McCaleb and Chris Larsen’s Massive Dumps

Solomon Odunayo — Mon, 28 Jul 2025 06:55:26 +0000

Crypto analyst Dark Defender has recently revisited a significant XRP transaction from December 9, 2020.

The tweet focused on former Ripple co-founder Jed McCaleb, who moved 266,305,309 XRP, valued at approximately $148 million at the time, from the Jed McCaleb Settlement account to his wallet. This transaction was originally flagged and reported by Whale Alert, a well-known blockchain tracking account.

In his post, Dark Defender highlighted that the event, which some at the time viewed as potentially bearish due to its size, had no significant long-term impact on the performance or price structure of XRP.

Dark Defender emphasized that if McCaleb had retained that amount of XRP instead of selling, it would be worth approximately $940 million today, based on recent market valuations. This historical reflection served as a central argument in his broader point about market resilience.

Contextualizing the Chris Larsen Reference

The post by Dark Defender was partly prompted by renewed discussion surrounding a Ripple co-founder, Chris Larsen. Recent reports indicated that Larsen had sold XRP worth $175 million.

Dark Defender drew a parallel between that sale and McCaleb’s 2020 activity, but stressed that McCaleb’s large sale had not undermined XRP’s longer-term performance. He concluded that there was no reason for concern regarding large token movements by major early holders, using the 2020 event as a reference point.

Dark Defender’s analysis was based on the observation that the XRP market, both in terms of liquidity and structural strength, appeared unaffected by what was then considered one of the largest individual XRP sales. The implication was that fears related to the influence of whale movements, particularly from Ripple-affiliated entities or individuals, may be overstated.

Reactions from the XRP Community

The post attracted responses from other users within the XRP community. One user, under the handle Joeplatform, contended that the 2020 transaction was merely a transfer and not a confirmed sale.

This assertion appears to be directed at the tweet by Whale Alert, which explicitly labeled the movement as a transfer from a settlement account to a personal wallet. However, Dark Defender maintained that the funds were subsequently sold, consistent with historical patterns in McCaleb’s account activity during that period.

Another user, BeethovenEcho, characterized the situation as a demonstration of XRP’s resilience. They noted that despite the substantial volume involved in the McCaleb sale, there was no major disruption in market price or structure. This, they suggested, reinforced the idea that XRP’s price behavior is influenced by broader market factors rather than isolated large transactions.

Dark Defender’s Conclusion

Dark Defender concluded that the fears surrounding major XRP sales, particularly from early figures like Jed McCaleb or Chris Larsen, are largely unfounded. By referencing an actual historical event and juxtaposing it with current sentiment, he aimed to reassure the community about the robustness of XRP in the face of perceived selling pressure.

While some users disagreed with the exact nature of the transaction in question, the core point raised by Dark Defender—that the market did not react with sustained negative movement following the 266 million XRP transfer—stood uncontested. The analyst used this example to argue that the XRP ecosystem has matured in such a way that it can absorb major asset movements without structural instability.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are advised to conduct thorough research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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Ripple Co-Founder’s $200M XRP Sale Raises Eyebrows. Here’s What’s Happening

Solomon Odunayo — Fri, 25 Jul 2025 14:30:20 +0000

Ripple co-founder Chris Larsen has come under scrutiny after data showed he sold approximately $200 million worth of XRP within ten days. This significant offload of XRP has raised questions among market observers, with some interpreting the move as a sign of wavering confidence in the asset.

Ripple and its executives have dealt with accusations of sell-offs for years. However, while the size of the transaction has sparked concerns, many XRP supporters argue that this development should be assessed within a broader and more nuanced context.

Concerns About Larsen’s XRP Sales

The data was highlighted by Maartunn (@JA_Maartun), a market watcher on X, who included a chart tracking Larsen’s XRP wallet activity over time. The visual shows a notable decline in the address balance, aligning with the reported $200 million sale.

Critics argue that such large-scale sales could negatively impact XRP’s price, with Maartunn suggesting that individual holders may be acting as “exit liquidity” for early investors, such as Larsen.

Like Ripple’s co-founders, Larsen received a large number of tokens at launch, and other executives, such as David Schwartz, who did not receive the same, still bought their tokens very early. This has led some to question the long-term commitment of Ripple’s leadership to the asset and its community, as they believe Ripple may be dumping XRP on the community.

XRP Army Stands Strong

Despite these concerns, multiple XRP advocates have defended the sale. By releasing large amounts of XRP into the market, early holders like Larsen contribute to greater liquidity, which can facilitate wider distribution and access to the asset.

Crypto Bitlord, who recently and accurately predicted the crypto market’s trajectory, weighed in, suggesting that allowing more XRP to circulate at lower prices benefits new investors by making the asset more affordable, viewing the sale as a favour rather than a betrayal.

Furthermore, XRP’s recent market performance remains strong. One commenter emphasized that XRP reached a new all-time high this month despite the sale, indicating that the broader market remains confident in the token’s value and potential.

Comparisons were also made to other high-profile asset sales by company executives. One community member referenced historical stock sales by Meta CEO Mark Zuckerberg, noting that such moves are common among founders and do not necessarily signal loss of faith.

He argued that XRP’s market presence now exceeds that of any individual, including Larsen, making his recent activity less consequential in the grand scheme.

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Ripple Chairman Chris Larsen’s Net Worth Surges by $6 Billion Since Election Day

Solomon Odunayo — Thu, 05 Dec 2024 17:53:34 +0000

The recent surge in XRP’s value following Donald Trump’s November 5 presidential election victory has positioned it as one of the most significant winners in the crypto market.

Since Election Day, the token’s price has increased by over 400%, reaching $2.86, its highest value since the cryptocurrency boom of 2017-2018. This rally has also driven Ripple Chairman Chris Larsen’s net worth to $9.2 billion, up from $3.3 billion, marking a substantial increase of 270%.

XRP’s Market Performance and Criticism

XRP’s current market valuation stands at $138 billion, reflecting growing investor optimism. However, skepticism about its utility persists. A Times Tabloid report earlier this year highlighted Forbes’ mention of XRP as a “Zombie Blockchain,” noting that despite its market size, it has failed to achieve its intended purpose of replacing SWIFT in global interbank transfers.

Legal Challenges and Regulatory Developments

The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) remains a focal point for the cryptocurrency’s future.

In December 2020, the SEC filed a lawsuit alleging that Ripple conducted a $1.3 billion unregistered securities offering through the sale of XRP tokens.

While Ripple achieved a partial victory in July 2023, Judge Analisa Torres ruled that retail sales of XRP through exchanges did not violate securities laws. However, institutional sales of XRP were deemed unlawful under U.S. securities regulations.

The legal uncertainty surrounding XRP has been a significant hurdle, but recent political changes have renewed optimism. With Gary Gensler, who became a prominent adversary of the crypto industry during his tenure as SEC Chairman, set to resign in January 2025, speculation about a more crypto-friendly regulatory approach under the Trump administration has grown.

Investors are betting on XRP’s potential to benefit from a pro-crypto regulatory environment under the new administration. Many in the industry expect the incoming SEC chair to prioritize resolving XRP’s legal challenges, which could pave the way for spot exchange-traded funds (ETFs) tied to the token.

Implications for XRP

The resolution of the SEC case could remove a major obstacle for XRP, providing clarity and potentially unlocking additional institutional investment. A clean regulatory slate would likely boost XRP’s adoption and cement its position in the cryptocurrency market.

Chris Larsen’s substantial financial gains underline XRP’s impressive performance and its evolving narrative in a shifting regulatory landscape. While challenges persist, the coming months may prove pivotal for XRP.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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Ripple Co-Founder: Stellar (XLM) Engineering Is World Class and Best in the Industry

Solomon Odunayo — Mon, 25 Nov 2024 05:38:39 +0000

Jed McCaleb, co-founder of Ripple and creator of Stellar, recently shared his perspective on why Stellar (XLM) is undervalued in today’s cryptocurrency market.

In his analysis, McCaleb emphasized the platform’s practical utility, technical innovations, and mission-driven approach, which he believes set it apart from other blockchain projects.

High Transaction Volumes and Real-world Applications

Stellar consistently handles more daily transactions than most blockchain networks, with volumes reportedly ten times higher than Ethereum. According to McCaleb, this performance is due to the token’s active use in real-world transactions, unlike many other projects that struggle to achieve widespread adoption.

McCaleb highlighted Stellar’s streamlined design, which integrates essential features directly into the platform. These include stablecoin issuance, token creation, and a decentralized exchange. This functionality simplifies the process for businesses and developers, making the asset an adaptable and efficient blockchain solution.

Secure Smart Contracts with Soroban

Another standout feature is its smart contract platform, Soroban. Designed for efficiency and security, Soroban addresses common vulnerabilities like reentrancy issues, ensuring safer smart contract implementation. This feature reflects the company’s commitment to delivering reliable tools for developers.

McCaleb pointed to Stellar’s minimal transaction fees as a major advantage. Its cost-effective infrastructure allows users to execute transactions at negligible rates, making it a competitive option for personal and business financial activities.

According to McCaleb, the asset’s technical foundation is built on world-class engineering principles. Additionally, its detailed and easy-to-follow documentation has been recognized as one of the best in the blockchain industry. These resources empower developers to build applications efficiently, fostering growth and innovation within the ecosystem.

One of the company’s core missions is to enhance financial access for underserved populations. McCaleb emphasized that the platform is designed to facilitate affordable asset transfers and provide financial services to those in regions with limited banking infrastructure. This focus on inclusivity distinguishes it from competitors.

Stellar’s native token, XLM, has shown remarkable performance in recent weeks, with its price surging by 478% in November alone. This growth pushed XLM to $0.65, a level not seen since May 2021. The significant price increase demonstrates strong market interest in the token.

Ripple Effect of Regulatory Changes

The resignation of SEC Chair Gary Gensler has created renewed interest in cryptocurrencies associated with McCaleb. Regulatory challenges tied to XRP, stemming from the SEC v. Ripple case, had previously suppressed its price. Following Gensler’s resignation, XRP experienced a 130% rise in value this year. XLM, often seen as a rival to XRP, has outperformed it.

McCaleb believes the asset is uniquely positioned to address critical challenges in digital payments. Its ability to offer cost-effective and scalable solutions to individuals and businesses demonstrates its long-term potential.

With a focus on real-world utility and financial accessibility, the token is poised to maintain its relevance in the evolving cryptocurrency landscape.

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Ripple Co-founder Chris Larsen Tops Crypto Donation Log With XRP

Solomon Odunayo — Wed, 30 Oct 2024 11:29:34 +0000

With Election Day around the corner, cryptocurrency industry contributions to political campaigns and organizations are garnering significant attention.

According to new data from Federal Election Commission (FEC) filings, crypto-related donations have now exceeded $200 million in support of various Political Action Committees (PACs), individual candidates, and political organizations.

This financial involvement reflects the industry’s increasing political influence and its stake in shaping regulatory landscapes that will impact crypto’s future in the United States.

Crypto Donations In Hundreds of Millions of Dollars

As observed by Fox Business journalist Eleanor Terrett, some of the most substantial donations in this election cycle are directed toward Vice President Kamala Harris and former President Donald Trump. On the Democratic side, Ripple co-founder Chris Larsen leads the donation list, contributing $11.7 million to support Harris.

This makes him the largest single donor from the crypto industry in the 2024 presidential race. His substantial donation highlights Ripple’s vested interest in influencing regulatory developments favorably for digital assets and blockchain.

Larsen advocates for clearer and more constructive regulation surrounding digital assets, especially as Ripple remains embroiled in its high-profile legal battle with the U.S. Securities and Exchange Commission (SEC).

His substantial financial contribution to Harris’s campaign suggests that he believes the current administration might offer a more supportive regulatory framework for crypto and blockchain technologies.

Prominent venture capitalist and blockchain investor Vinod Khosla has also aligned with Harris, donating $1 million.

Known for his investments in blockchain and other tech sectors, Khosla’s support signals a broader appeal among crypto investors toward the Democratic ticket in hopes of fostering a more favorable business environment for emerging technologies. Similarly, Reid Hoffman, an early investor in Coinbase, has contributed $250,000 to Harris’s campaign.

Crypto Industry Support for Trump Campaign

On the Republican side, former President Donald Trump has seen substantial financial support from various prominent figures in the crypto world. Howard Lutnick, a Bitcoin investor and advocate for Tether, has led donations of $6.4 million directed to Trump’s campaign.

The Cantor Fitzgerald CEO’s donation underscores the industry’s bid to rally support from both major parties, as regulatory clarity and favorable policies for cryptocurrencies remain the priority.

The Gemini exchange co-founders, Tyler and Cameron Winklevoss, have jointly contributed $2.04 million to Trump’s campaign. As early adopters and advocates of Bitcoin, the Winklevoss twins’ significant donations show their intent to support an administration that could ease current regulatory pressures on digital currencies.

Additionally, Jesse Powell, founder of Kraken, one of the largest U.S.-based cryptocurrency exchanges, contributed $844,943. Powell has been a vocal critic of regulatory overreach and is known for advocating for crypto-friendly legislation.

His donation and those of Bijan Tehrani (co-founder of Stake) with $852,396, Exodus CEO JP Richardson with $853,914, and entrepreneur Gary Cardone with $844,474 reflects a broad-based push from the industry to secure regulatory reforms and protect cryptocurrency’s role in the financial system.

Crypto Industry’s Political Engagement and Goals

The crypto industry’s significant donations indicate a deliberate engagement with the political process. With regulatory frameworks still in flux, especially regarding matters such as securities laws, stablecoins, and decentralized finance (DeFi), the industry appears keen to back candidates for regulatory clarity.

The industry’s considerable support reflects the desire to influence policies that could limit or enable the industry’s growth, depending on regulatory outcomes. These donations mark a shift as cryptocurrency executives aim to ensure their interests are represented amid an intensifying regulatory environment.

With bipartisan support from high-profile individuals across both parties, the crypto industry is positioning itself as a serious stakeholder in shaping the future of digital asset regulation. This election cycle may prove pivotal as the resulting administration will play a significant role in determining the course of crypto-related policies in the United States.

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Expert Says “I Am Never Touching XRP Ever Again”. Here’s why

Solomon Odunayo — Mon, 28 Oct 2024 09:49:22 +0000

Prominent crypto expert, Elite Crypto, recently declared their intention to disengage from XRP entirely, citing frustrations with its price performance and a controversial donation by Ripple’s co-founder.

In a recent post on X, Elite Crypto made it clear that they no longer view XRP as a viable investment option, underscoring two primary reasons behind this stance.

XRP Price Stagnation Likened to Stablecoin Behavior

Elite Crypto’s first issue with XRP lies in its prolonged lack of price movement, with the expert describing XRP as a “stablecoin” due to its consistently narrow trading range.

This characterization stems from XRP’s price action over the past two years, where its value has displayed minimal volatility, much to the dissatisfaction of market participants hoping for a more dynamic performance. Elite Crypto highlighted that XRP’s price stagnation significantly reduces its appeal, as it prefers cryptocurrencies with greater volatility and growth potential.

This stagnant performance contrasts with the broader cryptocurrency market, which has seen numerous projects achieving substantial price increases, particularly during the recent bull cycles.

As XRP’s trajectory remains steady, many investors question whether it will regain the momentum witnessed during earlier market cycles, creating an environment of skepticism among stakeholders like Elite Crypto.

Ripple Co-Founder’s $10 Million Donation Sparks Community Outrage

The second reason behind Elite Crypto’s departure from XRP involves a recent political donation by Ripple’s co-founder, Chris Larsen. Specifically, Larsen’s contribution of $10 million in XRP to U.S. Vice President Kamala Harris’ campaign has ignited widespread criticism within the XRP community.

The expert expressed disapproval of the donation, as they view it as misaligned with their political support for former President Donald Trump, which they shared openly in their post.

The XRP community, a considerable portion of which harbors deep reservations about the current administration, has expressed frustration over Larsen’s alignment with Harris. The Biden administration, under which Harris serves, has been notably critical of cryptocurrencies.

Although the Ripple lawsuit began under the previous administration in late 2020, the case intensified under President Joe Biden’s leadership with Gary Gensler as the SEC’s chair, resulting in extensive regulatory scrutiny on Ripple and protracted legal challenges for XRP holders.

XRP Community Members Condemn Larsen’s Decision

Within the XRP community, Larsen’s donation has reignited concerns about Ripple’s alleged detrimental impact on XRP holders. In an immediate response to the news, community member Nietzbux criticized Larsen’s decision, claiming it shifted the longstanding narrative from “Ripple dumps XRP on holders” to “Kamala dumps XRP on holders.”

This sentiment is rooted in Ripple’s historical practice of unlocking 1 billion XRP per month from escrow, with approximately 200 million tokens sold monthly to support operations. This practice is termed a consistent “dump” of the token on the market, mounting downward pressure on the coin’s value.

Nietzbux emphasized that Larsen’s donation, which will be liquidated to fiat to support Harris’ campaign, further compounds this problem. According to Nietzbux, while investors have often raised concerns about Ripple’s sale practices, this transaction represents a new and unwelcome development.

The Aftermath and Ripple’s Public Image Challenge

The repercussions of these events are not limited to Larsen alone as they could dent Ripple’s image in the public before the public. Larsen’s donation has prompted questions over the alignment between Ripple’s corporate interests and the broader XRP community.

As Elite Crypto and other XRP holders reconsider their positions on the cryptocurrency, Ripple faces an uphill task of reassuring stakeholders of its commitment to enhancing the token’s market performance and upholding its value.

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Ripple Co-founder Could Become First Trillionaire if XRP Price Hits This Target

Tobi Loba — Mon, 28 Oct 2024 06:24:47 +0000

XRP Captain (@UniverseTwenty), a prominent crypto community figure on X, recently highlighted an intriguing speculative scenario where Chris Larsen, the co-founder of Ripple, could become the first trillionaire if XRP’s price reaches $1,000.

Based on his holdings, a price of $1,000 per XRP would make Larsen’s assets worth an estimated $5.19 trillion. Although this post has stirred excitement in parts of the XRP community, others have voiced strong skepticism, suggesting the prediction is overly ambitious.

XRP’s Struggles and the $1,000 Target

For context, Chris Larsen was one of the earliest adopters and advocates of XRP and the Ripple protocol, amassing significant holdings of the cryptocurrency over the years. XRP, as Ripple’s primary digital asset, has gained popularity due to its focus on improving cross-border payments for financial institutions.

However, its price has been historically volatile, largely influenced by regulatory issues, particularly Ripple’s legal dispute with the U.S. Securities and Exchange Commission (SEC). Despite this, the XRP community remains optimistic about the asset’s potential for significant price increases if favorable conditions arise.

A surge to $1,000 per XRP would represent an unprecedented 194,225.6% increase from its current price of $0.5146. Prominent exchanges such as Uphold and various analysts have previously speculated on the $1,000 target, and many in the community are confident that the digital asset can reach this remarkable target under the right circumstances.

The Community Responds

XRP Captain quickly attracted a range of reactions. One user remarked, “This is just one of many reasons why this won’t happen,” expressing doubt over the feasibility of such a high valuation. This sentiment was echoed by other users who questioned the logic of the $1,000 price point, with one saying, “How about we get to $1 first? Sound good?”

XRP has not crossed the $1 level since late 2021, and many in the community are eager to see a $1 price before looking toward higher targets.

Meanwhile, other responses showed enthusiasm for XRP’s potential, with the user stating, “And I will be a multi-millionaire” This reaction highlights the hopes some XRP investors have for life-changing financial outcomes if XRP were to experience a major surge.

Although Chris Larsen’s path to becoming a trillionaire through XRP has some hurdles, the community and many experts are confident that the digital asset can eventually climb to the $1,000 target.

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Expert Says There Is No Excuse For Owning XRP After this Happened

Solomon Odunayo — Fri, 25 Oct 2024 04:31:45 +0000

Prominent voices in the cryptocurrency space are urging traders to reconsider their support for XRP, following substantial political donations made by Ripple co-founder and chairman Chris Larsen.

The controversy stems from Larsen’s financial backing of Vice President Kamala Harris’s presidential campaign, sparking criticism from influential figures in the crypto community.

In recent months, Larsen has made significant contributions to Harris’s 2024 campaign, with his latest donation of $10 million worth of XRP drawing considerable attention. This comes after an earlier $1 million donation, bringing Larsen’s total contributions to over $11.8 million in support of Harris’s bid for the presidency.

Calls for XRP Boycott

The donations have provoked strong reactions, with some critics arguing that Larsen’s political support runs counter to XRP’s core values. Among those leading the charge is Mike Alfred, a well-known investor in the cryptocurrency space and a director on several boards.

Alfred took to X to express his disapproval of Larsen’s actions, stating that there is “no excuse” for anyone to hold or trade XRP in light of the chairman’s ongoing financial contributions to Harris’s campaign.

The backlash intensified after Layah Heilpern, another notable voice in the crypto world, condemned Ripple’s leadership for what she described as “dumping” on the XRP community to support politicians she views as having a “Marxist” agenda.

Heilpern’s comments reflect a growing frustration among some XRP supporters who believe that the political affiliations of Ripple’s leadership are out of step with the community’s broader goals.

Industry Reaction

The criticism has been echoed by other influential figures in the crypto space. Ryan Selkis, founder of the blockchain analytics platform Messari, joined the conversation by declaring that XRP is “dead,” suggesting that Ripple’s leadership decisions, including their political donations, could undermine the token’s credibility and future.

This is not the first time Larsen has contributed to Harris’s campaign. Earlier this year, he made an initial donation of $6,600, setting the stage for larger contributions in the following months.

As Harris’s presidential campaign gains momentum, other high-profile donors have also stepped in, including Facebook co-founder Dustin Moskovitz, who has contributed $10 million, and Illinois Governor JB Pritzker, who donated $5 million. The nonprofit Evidence for Impact also donated $9 million to the campaign.

Ripple’s Response to the Criticism

Amid the mounting criticism, Ripple’s CEO Brad Garlinghouse has defended Larsen’s right to support the candidate of his choice. In a recent statement, Garlinghouse stressed that Larsen’s donations are separate from Ripple’s corporate stance.

He noted that while Larsen’s political contributions have attracted attention, Ripple, as a company remains focused on engaging with both sides of the political spectrum to promote pro-crypto policies.

Garlinghouse emphasized that Ripple advocates for policies that encourage blockchain innovation and that these efforts are not tied to any particular political party. He pointed to the current regulatory environment under the Biden administration as an example of the company’s focus on fostering constructive dialogue on crypto regulation, regardless of which party holds power.

Political Engagement and Crypto

Larsen’s significant financial backing of Harris has sparked a larger conversation about the intersection of politics and cryptocurrency. While some market participants view political contributions as a personal decision, others argue that the involvement of crypto leaders in high-profile political campaigns could have wider implications for the industry.

For XRP in particular, the debate over Larsen’s donations highlights the challenges that arise when the personal actions of key figures in a project are seen as conflicting with the interests or values of the community. As the 2024 presidential campaign unfolds, it remains to be seen how these political controversies will impact XRP’s standing in the broader crypto market.

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Ripple CEO Reacts to Chris Larsen’s $10M In XRP Donation to Kamala Campaign

Tobi Loba — Tue, 22 Oct 2024 06:20:26 +0000

Teddy Schleifer, a reporter on X, recently shared that the big-money super PAC Future Forward raised over $100 million last month for Vice President Kamala Harris’ presidential campaign.

He detailed the contributions, which included multiple donations from interesting sources, and a notable $10 million from Chris Larsen.

Larsen’s support for Harris reflects his belief that her leadership will drive American technological innovation.

In his post on X, he stated that the time has come for Democrats to adopt a new approach to tech innovation. Larsen also revealed that he made his donation in XRP, similar to the $1 million donation he made previously.

Brad Garlinghouse Responds to Larsen’s Donation

Ripple CEO Brad Garlinghouse responded to Larsen’s post, highlighting the need for a shift in the current administration’s approach to crypto regulation. He stated, “We need to immediately change course from this administration’s misguided war on crypto.”

Garlinghouse emphasized that Ripple’s engagement with Democrats and Republicans aims to promote pro-crypto policies, stressing that the focus should be on policies that drive innovation rather than on partisan lines.

Garlinghouse’s remarks point to a broader necessity for regulatory frameworks that encourage technological advancements. He expressed a vision where bipartisan support can foster the growth of blockchain technology, ensuring the U.S. remains a leader in this sector.

The contributions from Larsen and other tech leaders to Future Forward highlight the increasing involvement of the tech sector in political advocacy. These donations are strategic investments aimed at shaping a favorable regulatory environment for emerging technologies.

Garlinghouse’s call for a change in course reflects a desire for a regulatory landscape that supports innovation and positions the U.S. at the forefront of the global digital economy.

Potential Impact of the U.S. Election

With the election just weeks away, the crypto community is excited for a change of administration. Donald Trump is the more outspoken pro-crypto candidate and began accepting crypto donations months ago. However, Harris has also shown a more lenient approach toward the crypto world.

With the way the race is shaping up, we could see a major shift after the election. Gary Gensler, the current SEC Chair is currently being investigated, and many expect him to be removed and potentially face consequences for the SEC’s disgraceful track record under him.

For the crypto industry, its future will be shaped by ongoing efforts to influence and engage with policymakers, emphasizing the need for regulations that support, rather than hinder, technological progress.

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Lawyer Explains Benefit of $1 Million In XRP Donated to Kamala Campaign

Solomon Odunayo — Sun, 13 Oct 2024 11:00:51 +0000

Fred Rispoli, a well-known attorney and active figure on X, recently responded to the news of a $1 million in XRP donated by Ripple co-founder Christian Larsen to the Future Forward USA PAC, a group supporting Vice President Kamala Harris.

The donation was reported by Fox Business journalist Eleanor Terrett and marks the first documented cryptocurrency contribution to Harris, setting a precedent for crypto involvement in politics. The Federal Election Commission (FEC) filing associated with the donation notes that it is in-kind, with the XRP not being liquidated at the time of the report.

The Biden Administration and Cryptocurrencies

Rispoli’s response to the donation sparked considerable attention. He speculated that Larsen’s decision to donate to XRP might carry a deeper significance, particularly given the U.S. Securities and Exchange Commission’s (SEC) stance on the digital asset.

The SEC under the Biden administration has been engaged in a legal battle with Ripple, claiming that XRP should be classified as a security, meaning its sale or distribution would be subject to strict regulatory oversight. The case has had profound implications for Ripple and the broader crypto space, causing intense debate over how digital assets should be regulated.

Rispoli stated, “Screw it, let’s see if she accepts the XRP her administration says is an investment contract,” suggesting that the donation could be a strategic or symbolic gesture on Larsen’s part. By donating XRP, Larsen may be testing whether a political figure, whose administration has been directly involved in overseeing the SEC, would accept a cryptocurrency that the same administration is scrutinizing.

Will Kamala Harris Accept Cryptocurrencies?

Over the past months, Donald Trump has been seen as the pro-crypto candidate and began accepting cryptocurrency donations including XRP in May 2024. However, Harris’s stance seems to have softened, and this donation could be a way for Larsen to indirectly challenge the regulatory treatment of XRP, bringing attention to the apparent contradictions in its legal status.

While some view the contribution as mere political donations, Rispoli suggests it may be more about pushing the boundaries of how XRP is perceived by regulators and political leaders.

Given that Harris is part of an administration overseeing the SEC, could make this donation particularly noteworthy within political and cryptocurrency circles.

SEC Chair Gary Gensler is currently in hot water as he’s being investigated for his hiring practices. Kamala Harris May be reevaluating her stance as Gensler gets exposed, and this could benefit XRP eventually.

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