The post The Red Flags Behind Ripple Co-founder $1M Donation to Kamala Harris Campaign appeared on BitcoinEthereumNews.com.

In recent Ripple News, the company’s co-founder, Chris Larsen, made headlines by donating $1 million in XRP tokens to a the Future Forward USA Political Action Committee (PAC) supporting Vice President Kamala Harris. With Ripple’s ongoing battle against the U.S. Securities and Exchange Commission (SEC), the timing and recipient of this donation have raised questions. Could Ripple’s political engagement be a strategic maneuver to gain leverage or influence in its legal fight? This article will explore the implications of this donation, its ties to the Democratic Party, and whether it could serve Ripple’s interests in the regulatory arena. Ripple’s $1 Million Donation to Kamala Harris: A Political Move? The recent $1 million donation by Chris Larsen, Ripple’s co-founder, to a PAC supporting Kamala Harris has sparked widespread speculation. Harris, the current Vice President of the United States, represents a key figure within the Democratic Party, which currently holds the presidency and has significant influence over regulatory agencies, including the SEC. Given Ripple’s ongoing legal battle with the SEC, some observers view this donation as more than just a political contribution — it could be a calculated move to build relationships with policymakers who may shape the future regulatory environment for cryptocurrencies. Ripple’s Battle with the SEC Ripple has been embroiled in a legal battle with the SEC since December 2020, when the regulatory body filed a lawsuit claiming that Ripple’s XRP token is a security and should have been registered as such. The lawsuit has been a major hurdle for Ripple, creating uncertainty around the regulatory status of XRP and its broader implications for the cryptocurrency industry. At the center of this legal clash is SEC Chair Gary Gensler, appointed by President Joe Biden, a leading figure in the Democratic Party. Gensler has taken a strict regulatory stance on cryptocurrencies,…

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Filed under: News - @ October 12, 2024 3:19 pm