- Democrats must embrace tech innovation, especially in crypto, to remain competitive globally.
- Future Forward’s $100 million fundraising highlights strong support for pro-tech candidates.
- Bipartisan engagement is crucial for promoting policies that advance blockchain and crypto development.
As the November 5, 2024, election nears, political dynamics are shifting. To that end, Vice President Kamala Harris received a heads-up to her presidential campaign with a $10 million XRP donation, highlighting the growing influence of cryptocurrency in U.S. politics. Many believe she can lead the U.S. to dominate the global technology landscape. This contribution also underscores the increasing need for policymakers to prioritize blockchain innovation and digital assets.
Big Money Mobilizing for Change
The recent fundraising efforts of the super PAC Future Forward further illustrate the urgency for a new strategy. Last month, it raised over $100 million, demonstrating a strong commitment to promoting candidates who prioritize technological advancement.
Among the notable contributors were Dustin Moskovitz and Chris Larsen, each donating $10 million. Additionally, the nonprofit organization called Evidence for Impact contributed $9 million, while JB Pritzker added $5 million. Notably, over $40 million of this funding originated from Future Forward’s own dark-money group, revealing a robust financial backing for pro-tech policies.
A Call for Bipartisan Support
Supporters like Chris Larsen stress the importance of political backing for crypto innovation. They argue that it is crucial to shift away from the current administration’s detrimental stance on cryptocurrency.
Brad Garlinghouse, CEO of Ripple, emphasized the need for bipartisan engagement in the coming weeks. This approach seeks to promote policies that nurture blockchain and crypto development, regardless of party affiliation. By fostering an inclusive dialogue, stakeholders aim to champion initiatives that propel the industry forward.
Read also: SEC May Appeal Ripple Ruling, While XRP Co-Founder Moves Millions
Looking beyond the 2024 election, Garlinghouse reiterated Ripple’s commitment to working with lawmakers to ensure cryptocurrency remains a top priority. This strategy is aimed at establishing a regulatory framework that encourages crypto innovation and drives economic growth in the blockchain space.
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