As the US presidential race heats up, Vice President Kamala Harris has received significant support from prominent figures in the technology sector, including executives from the crypto sector.
According to a recent report from CNBC, 88 high-profile business leaders from Wall Street have officially endorsed Harris as the Democratic candidate in the upcoming election. Among these notable supporters is Chris Larsen, co-founder of blockchain-based payments infrastructure company Ripple. A Prize Pool Worth 21 Million TL Awaits You from BinanceTR! Participating and winning has never been easier.. You can sign up to BinanceTR from this link. Get your first crypto!
Ripple’s Diverging Paths
The letter of support shared with CNBC highlights Harris’ growing support from influential corporate figures. Larsen’s support is particularly notable as he is the first major crypto executive to publicly support Harris. This comes despite the Harris administration’s mixed stance on the growing digital economy.
On the other hand, Ripple CEO and co-founder Brad Garlinghouse has decided not to endorse any presidential candidate. Garlinghouse is focused on supporting pro-crypto candidates who advocate for regulatory clarity and innovation-friendly policies. In December 2023, he called on crypto industry leaders to support candidates who are committed to supporting the development of the digital asset market.
Brad Garlinghouse: “We should support pro-crypto candidates, this will promote regulatory clarity and innovation-friendly policies.”
To that end, Garlinghouse has made generous donations to Fairshake, a crypto-focused U.S. federal political action committee (PAC). Since last year, Ripple $0.535633 and Garlinghouse contributed more than $50 million to the cause.
Ripple Poised to Expand Outside the US
Garlinghouse’s concerns about the US regulatory environment stem from what he sees as being unfavorable for crypto businesses due to ongoing legal battles and unclear rules.
Garlinghouse also advised founders to consider opportunities outside the US, pointing to more favorable environments abroad. According to him, Ripple also plans to expand internationally and is considering regions that offer clearer regulatory frameworks for crypto companies.
Brad Garlinghouse: “Ripple is uninterested in conducting an initial public offering (IPO) in the US because the regulatory environment in the region is too aggressive.”
While Larsen and Garlinghouse have different political approaches, their influence on the crypto industry remains significant, and Larsen’s decision to endorse Harris underscores his belief that Harris can lead the country through technological and economic change.
High-Profile Endorsers from the Tech World
In addition to Larsen, the letter of support for Harris includes signatures from some of the most prominent names in the technology world.
Corporate executives such as Box CEO Aaron Levie, Yelp CEO Jeremy Stoppelman and Snap Inc. chairman Michael Lynton are among those who have expressed confidence in Harris’ leadership.
Other high-profile supporters include former 21st Century Fox CEO James Murdoch and longtime Democratic donor John Doerr of Kleiner Perkins, who believe Harris will pursue policies that promote the stability and security of the U.S. economy.
In their letter of support, the signatory leaders emphasize the importance of electing a president to uphold the rule of law, champion fair and predictable policies, and create a stable business environment.
If Harris is elected president, they believe she will continue her longstanding “fair and predictable policies that promote the rule of law, stability and a sound business environment.”
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
