Top Crypto Chief Declares Support for Kamala Harris as Pre-Election Moves Intensify 

As the November polls draw closer, more leaders across the crypto industry are publicly declaring their allegiances. Recently, CNBC published a jointly authored letter revealing the intention of 89 industry leaders to endorse the Democratic Party’s presidential candidate. Among these leaders was Chris Larsen, co-founder and former CEO of Ripple Labs. Joining Larsen were other executives from companies such as Snap and 21st Century Fox.

In 2012, Chris Larsen and Jed McCaleb founded the exchange and payment protocol developer initially known as OpenCoin, which was rebranded as Ripple Labs in 2015. The following year, Larsen stepped down from his position as CEO at the San Francisco-based company.

The letter expressed the CEOs’ confidence in the Democratic presidential candidate, praising her commitment to fostering a business environment conducive to growth both domestically and internationally. However, an interesting twist to Larsen’s endorsement comes from comments made by Ripple Labs’ current CEO, Brad Garlinghouse.

Garlinghouse recently made headlines ahead of the November polls, sharing his views on where the crypto industry stands in relation to both political options. He remarked that Kamala Harris’s campaign is struggling to gain votes within the crypto space due to the Democratic Party’s stringent regulatory stance on crypto. Meanwhile, the Republican candidate is garnering more support thanks to the GOP’s plans to encourage innovation. Garlinghouse urged the crypto community to base their voting decisions on policy platforms that best align with the industry’s interests, rather than simply following party loyalties.

After a prolonged legal battle with the Securities and Exchange Commission, which resulted in Ripple Labs being fined $125 million, the company is now focused on the outcome of the election, hoping for clearer and more favorable regulatory policies.

Currently, the crypto community remains divided between the two major parties. Although industry leaders have voiced support for both candidates, many believe the Republicans are leading in terms of crypto votes, likely due to the challenging regulatory environment under the current Democratic administration.