As the November 5, 2024 election approaches, cryptocurrency plays an increasingly prominent role in U.S. politics. Vice President Kamala Harris’s presidential campaign recently received a significant boost with a $10 million XRP donation. This contribution highlights the growing influence of digital assets and reflects the belief that Harris could help position the U.S. as a leader in the global technology landscape. The donation also underscores the need for policymakers to prioritize blockchain innovation and embrace the potential of digital assets in shaping the economy.
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Major Fundraising Efforts and Pro-Tech Agendas
Apart from the increase in Harris’s polling numbers, the funds raised by the new super PAC, Future Forward, have also made people aware of the need for technological development in political planning. Last month, the PAC pulled in over $100 million to fund challengers and incumbents most interested in innovation and technology. This massive funding has been provided with $10 million in support from Dustin Moskovitz and Chris Larsen, $9 million from the nonprofit Evidence for Impact, and $5 million from Illinois Governor JB Pritzker. However, the two are also linked to more than $40 million spent by Future Forward’s dark money organization to support candidates who advocated for pro-tech policies.
Those such as Chris Larsen, the founder of Ripple, also stress the need for political support to develop cryptocurrencies. They claim that to assert such an aggressive grip in the industry, there must be a turn from the current administration’s anti-crypto sentiment. Ripple CEO Brad Garlinghouse echoed these sentiments, noting that he expects political forces to push for policies that encourage blockchain and crypto in the coming weeks. Promoters of the cryptocurrency market strategy have sought to involve politicians from both the dark and the side to pass legislation that will spur change.
Conclusion
Looking ahead to the 2024 election, Garlinghouse reaffirmed Ripple’s commitment to working closely with lawmakers to ensure cryptocurrency remains a key priority. This effort aims to establish a regulatory framework that supports blockchain development, ensuring the U.S. remains a leader in the global technology sector.
Also Read: Crypto Community Divided Over Kamala Harris’s Bitcoin Conference Decision
