Key facts
- Ripple Executive Chairman Chris Larsen donated at least $22.5 million to federal candidates and super PACs.
- Larsen plans to increase his political donations.
- Invest in Tomorrow Coalition PAC, which supports pro-clean-energy candidates, received $6 million from Larsen.
- Larsen founded the super PAC You Can Push Back, which advocates for AI safety regulations.
- Larsen contributed $4 million to Senator Sherrod Brown's campaign.
- Larsen supports passing the Clarity Act, legislation aimed at defining crypto's regulatory status.
Chris Larsen, the executive chairman of Ripple and a significant Democratic donor, has contributed at least $22.5 million to federal candidates and super political action committees (PACs) this election cycle. His increased political involvement comes as midterm elections approach, with plans for even larger donations.
Larsen's political spending targets key issues including artificial intelligence, clean energy, cryptocurrency, and the taxation of high-net-worth individuals. Data from the US Federal Election Commission (FEC) indicates that his direct contributions to federal candidates and super PACs have surpassed $22.5 million. A substantial $6 million donation was made to the Invest in Tomorrow Coalition PAC, which champions pro-clean-energy candidates and opposes lawmakers who vote against renewable energy incentives.
Additionally, Larsen has backed The Campaign for Democracy, a political organization established by California Governor Gavin Newsom, and intends to support Newsom's potential 2028 presidential bid. Larsen also founded the super PAC You Can Push Back, which receives significant funding from him and focuses on advocating for artificial intelligence safety regulations and child protection measures.
In a notable instance, Larsen personally donated $4 million to Senator Sherrod Brown's campaign, criticizing the crypto industry super PAC Fairshake's plan to spend $30 million opposing Brown. Ripple itself has contributed $48 million to Fairshake this cycle.
Larsen has also voiced strong support for the Clarity Act, a piece of legislation he believes will resolve the ambiguity surrounding whether cryptocurrencies should be treated as securities or commodities. Separately, he has invested in American Perpetuals Exchange Corp (APAC), a derivatives startup founded by Democratic Senator Kirsten Gillibrand, who has faced criticism for her role in the Clarity Act's ethics discussions.