Ever since Kamala Harris became the Democratic Party’s presidential nominee, she’s been leaving Mr. Trump in the dust when it comes to fundraising and spending, building a campaign much larger than that of her Republican counterpart.
In fact, Vice President Kamala Harris’s campaign set a new record for the largest quarterly fundraising haul this fall, raking in a staggering $1 billion over three months ending on September 30.
Just in September alone, Harris and her allied party committees announced they raised a staggering $378 million. Meanwhile, Donald Trump’s campaign and his affiliated groups managed to collect a more modest $160 million.
The enormous gap between Harris and Trump’s committees was revealed in new filings submitted to the Federal Election Commission on Sunday evening. These figures paint a clear picture of the race as of the end of September and reflect the aftermath of that month’s presidential debates.
Trump has consistently raised less money compared to his last presidential run, partly because his lean, low-cost fundraising machine is struggling to keep up with the pace set four years ago.
Who Are Crypto Firms Betting On?
Since the start of the presidential race, Republican candidate Donald Trump has been seen as the more crypto-friendly contender, which earned him more financial support from the industry. Harris’s campaign only recently started discussing how she’d support the U.S. crypto ecosystem, but that doesn’t mean the crypto community has written her off just yet.
Ripple co-founder Chris Larsen announced he’s thrown another $10 million behind Kamala Harris’s U.S. presidential campaign. He confirmed the donation on X, noting that the contribution was made in XRP.
Ripple verified Larsen’s personal donation after his tweet. Last Sunday, The New York Times reported that Larsen had given $10 million to Future Forward, a well-known Democratic PAC, during what turned out to be a record-breaking quarter for Harris’s fundraising efforts.
It's time for the Democrats to have a new approach to tech innovation, including crypto. I believe @KamalaHarris will ensure that American technology dominates the world, which is why I’m donating $10M in XRP in support of her. https://t.co/vb9KJA87JK
— Chris Larsen (@chrislarsensf) October 21, 2024
Ripple Labs CEO Brad Garlinghouse chimed in on Larsen’s donation in a reply tweet, hinting at the company’s ongoing battle with regulators. He wrote:
I respect Chris’ (and everyone’s!) right to support whomever they think is best to lead the U.S.
— Brad Garlinghouse (@bgarlinghouse) October 21, 2024
We need to immediately change course from this administration’s misguided war on crypto.
Ripple will continue to engage with both Democrats and Republicans in the final days of…
A few more Democratic billionaires wrote eight-figure checks to Future Forward in September: Facebook co-founder Dustin Moskovitz and crypto-billionaire Chris Larsen each contributed about $10 million, while Illinois Governor J.B. Pritzker added another $5 million.
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— Teddy Schleifer (@teddyschleifer) October 21, 2024
The big-money super PAC Future Forward raised over $100 million just last month.
$10 million from Dustin Moskovitz
$10 million from Chris Larsen
$9 million from a nonprofit called Evidence for Impact
$5 million from JB Pritzker
Earlier this month, FEC filings revealed that Larsen had already donated 1,754,815.29 XRP, valued at $1 million, to the same PAC back in August. Ripple Labs confirmed that the latest $10 million donation didn’t include the previous batch of XRP.
Thanks to her financial edge, Harris has been able to spend most of her precious time rallying support in these final weeks, while Trump has had to split his time between fundraising efforts and campaigning.
Kataryna Habeliia
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