Ripple Crypto CHRIS larsen

see INAUGURATION 3 BIGGEST 5 MILLION?

BALLROOM

bores? AI but also fair shake

cA BiLLION TAX

cryptocurrency investor Chris Larsen;

A few other candidates also had billionaire support. Silicon Valley investor Chris Larsen donated to both Porter and Hilton, and Brin also contributed to Hilton.

---

no lnx

bloomberg) -- Silicon Valley billionaires have been seething over the threat of more taxes and regulations at home. Now, a proposed nine-figure fund aims to give wealthy Californians an unprecedented tool to reshape the state’s politics in their favor.

The fund is being pitched to some of the state’s richest residents as an endowment that would operate in California for decades to come, according to people with knowledge of the matter. Organizers are seeking $100 million this year, with hopes of reaching at least $500 million and up to $1 billion in the coming years, said one of the people, who asked not to be named because the conversations are private.

If successful, the fund could give Silicon Valley’s elite a long-term political machine meant to rival the powerful constellation of labor unions, progressive groups and other entrenched interests in Sacramento.

Neil Mehta, the founder of Greenoaks Capital, is helping promote the idea across Silicon Valley, the people said. Other prominent supporters include billionaire Joe Lonsdale, the conservative co-founder of Palantir Technologies Inc., and Garry Tan, chief executive officer of the influential startup accelerator Y Combinator. Ripple chairman Chris Larsen, who’s worth $13 billion according to the Bloomberg Billionaires Index, said he also has been approached but hasn’t decided whether to contribute to the effort.

“A lot of people are supporting their effort from both political sides,” Lonsdale, a Bay Area native who’s now based in Austin, said in an email. “We all want to see a more level political playing field, where common-sense, moderate policy can win, with a focus on making California more affordable and pro-growth.”

The project, named California Renewal, would create an endowment-type fund to act across election cycles indefinitely, financing political contributions through its own investment returns. By turning to capital gains instead of individual donations to bankroll political campaigns, the endowment could also reduce the amount of donor information disclosed publicly, one of the people familiar with the matter said.

“We’re in early conversations with people who deeply care about the future of the state of California,” said Maria Davidson, the founder of construction startup Kojo and leader of the effort. “Myself and a lot of friends have all been very concerned about the direction in which California is headed.”

Davidson, a former chief of staff to Lonsdale, declined to comment on any specifics of the effort. Mehta also declined to comment.

The proposal reflects a rising frustration among segments of the tech elite, who say the state’s politics have drifted too far left, hurting the economy. The endowment model is meant to counter what wealthy donors see as a disadvantage in California politics: Labor unions maintain a constant presence in Sacramento, fueled by money from membership dues, while business leaders tend to mobilize only around certain legislation or ballot fights.

Y Combinator’s Tan, one of California’s most vocal advocates for tech’s involvement in politics, said he is “definitely” putting money in the endowment, though he won’t be a major donor.

“I think it’s great,” said Tan. “We need to think about politics more like we think about investing.”

Deeper Involvement

California Renewal could end up backing a more fiscally conservative vision for the Golden State and cut regulations, which supporters say will spur housing and lower energy prices.

It remains unclear how much — if any — money has been raised so far and there’s no guarantee that the fund will ever get off the ground, with the project bound to face heavy opposition from unions and other sectors. Davidson also declined to say if the group is playing a role in the 2026 election cycle, adding she is focused on “building this for the long term.”

A newcomer to California’s political scene, Davidson was born in Moscow and raised in Israel before moving to the UK at the age of 13. She told Forbes that she first came to San Francisco after a trip from Burning Man and went on to found her startup. She’s working on the project alongside Mattieu Gamache-Asselin, who created Alto Pharmacy in 2015 and declined to comment.

The idea has gained traction after a health care union proposed a one-time 5% wealth tax on California billionaires. The initiative sparked a series of well-funded efforts among tech leaders to reassert themselves in the state’s politics, where a Democratic supermajority holds the legislature and the governor’s office.

Larsen has since created his own PAC to elect moderate lawmakers, and Google co-founder Sergey Brin is leading a coalition of billionaires that are pushing ballot measures meant to undercut the wealth tax. Tech leaders are funding candidates in the race to succeed Governor Gavin Newsom, with Brin donating to both Fox News contributor Steve Hilton, a Republican, and San Jose Mayor Matt Mahan, a centrist Democrat. They are also bankrolling a primary challenger to progressive Congressman Ro Khanna.

Davidson points to San Francisco as a model for the greater political involvement. In recent years, wealthy elites backed by a groundswell of frustration with high rates of vehicle break-ins, homelessness and drug use in the city helped finance successful recall campaigns against a progressive district attorney and several school board members. That helped shift local political leadership toward more moderate candidates on public safety and business issues.

California’s labor unions and progressives, who have a strong base of support in the state, are already mobilizing to oppose billionaires’ efforts to increase their influence.

Lorena Gonzalez, president of the California Labor Federation, an umbrella group representing more than two million workers, said her group could push for new taxes on capital gains targeting the endowment structure, as well as disclosure rules that would impact the group.

“You may be able to buy one election or one congressman or one governor even,” said Gonzalez. “You’re not going to buy California.”

With assistance from John Gittelsohn.}:

(Updates with Sergey Brin’s donations for California governor’s race on 16th paragraph.)

---

duck 10 25

Ripple's Involvement with Trump

Funding the White House Ballroom

Ripple, along with other major companies, is contributing to the construction of a new $300 million ballroom at the White House. This ballroom will replace part of the East Wing and is set to host state events. The project is funded entirely by private donations, with Ripple's involvement highlighting its growing influence in U.S. politics.

Political Influence and Contributions

Ripple has a history of supporting Trump, having previously donated nearly $5 million to his inauguration committee. This financial backing reflects Ripple's strategy to strengthen its ties with the political landscape, particularly as Trump's administration has adopted pro-crypto policies. The company's contributions are seen as part of a broader trend where cryptocurrency firms are increasingly involved in political funding.

Regulatory Impact

Ripple's donations and political engagement have coincided with significant regulatory changes in the U.S. The appointment of pro-crypto officials has led to a more favorable environment for cryptocurrency companies, including the dismissal of legal cases against Ripple and others. This relationship underscores the potential for cryptocurrency to influence U.S. policy and regulation.

-=-=

Ripple Co-Founder Leads $40M Push to Counter California Wealth Tax

crypto tax

Ripple

Ripple co-founder Chris Larsen and Tim Draper launched Grow California, a $40 million political initiative targeting moderate legislators to counter a proposed wealth tax.

Crypto Journalist

Anas Hassan

Last updated:

February 1, 2026

Don't miss out on the hottest presales right now

Explore Now

Ripple Co-Founder Leads $40M Push to Counter California Wealth Tax

Ripple co-founder Chris Larsen and venture capitalist Tim Draper have launched Grow California, a $40 million political initiative designed to elect moderate state legislators and push back against labor unions, with a proposed wealth tax serving as the primary catalyst for Silicon Valley’s latest political mobilization.

According to NYT, the effort, which began with $5 million checks from each founder in September, represents one of the most significant financial commitments from the tech and crypto sectors to reshape California politics.

The ballot measure that triggered this response, backed by Service Employees International Union-United Healthcare Workers West, would impose a one-time 5% tax on net worth exceeding $1 billion, including unrealized gains on assets not yet sold.

“Whoever designed that wealth tax in the unions — wow,” Larsen said. “They woke up the sleeping giant like I have never seen.“

Ripple California Wealth Tax - Chris Larsen Image

Ripple co-founder Chris Larsen. | Source: Bloomberg

Tech Billionaires Challenge Union Influence With Business-Friendly Candidates

Larsen, whose net worth is nearly $15 billion from Ripple holdings and crypto assets, said he expects to personally commit $30 million to the organization.

“If it takes a couple of cycles, fine — that’s what we’re here for,” he told The New York Times when asked about potential November losses.

The group plans to target about a dozen state legislative seats this year, focusing on public safety, homelessness, and budget discipline, according to Shaudi Fulp, the former Sacramento lobbyist leading daily operations.

While Democrats control more than two-thirds of seats in both legislative chambers, Grow California will not engage in the 2026 gubernatorial race or expensive ballot proposition campaigns.

Both founders come from the crypto industry, though they stress that the initiative does not represent the interests of the crypto sector specifically.

Larsen acknowledged learning lessons from Fairshake, the crypto super PAC backed by Ripple that spent over $100 million shaping the current Congress.

Draper, known for Bitcoin-themed accessories and his persistent campaign to split California into multiple states, did not respond to requests for comment.

“The government unions do a great job,” Larsen said, adding with a laugh, “I have respect for the job that they’ve done. They show up, and they’re there consistently. But that’s going to clash with a lot of the things that are going to make California successful if there’s no counterforce.“

California Crypto Politics Intensifies Amid Governor Race And Regulatory Expansion

The wealth tax debate coincides with former Assembly member Ian Calderon’s entry into the 2026 gubernatorial race on a pro-Bitcoin platform.

Calderon, 39, who served as Assembly Majority Leader from 2016 to 2020, declared his vision for California to become “the undisputed leader on Bitcoin” in his campaign announcement video.

Meanwhile, Governor Gavin Newsom has intensified criticism of President Donald Trump’s crypto-related pardons, launching a state-backed website tracking what his office calls “criminal cronies.“

The site prominently features Binance founder Changpeng Zhao, who received a full pardon in October after serving four months for Bank Secrecy Act violations, and Ross Ulbricht, whose life sentence for Silk Road operations was commuted.

Beyond political battles, California continues advancing digital asset infrastructure through the Digital Financial Assets Law, which takes effect in July 2025 and requires all crypto service providers to obtain state licenses.

The Assembly also unanimously passed AB 1180 in June, creating a pilot program for state fee payments using digital assets that runs through 2031.

Global Tax Frameworks Contrast California’s Uncertain Trajectory

While California debates wealth taxation, other jurisdictions are implementing clearer crypto tax structures.

Japan’s 2026 tax reform blueprint reduces crypto taxation from up to 55% to a flat 20% for specified digital assets handled by registered businesses, though the exact qualifying criteria remain undefined.

Similarly, the European Union’s DAC8 tax transparency law took effect on January 1, requiring crypto exchanges and service providers to collect and report user information to national tax authorities, with data sharing between EU countries beginning July 1.

“Tax authorities now have an automated dashboard tracking your digital assets,” wrote Bitcoin educator Heidi Chakos.

However, just like California, South Korea faces mounting uncertainty over its repeatedly delayed crypto tax regime, now scheduled for January 2027 despite lacking essential infrastructure.

Switzerland also postponed the automatic exchange of crypto account information with foreign tax authorities until at least 2027, though legal frameworks take effect in January 2026.

Trending NewsRecommendedPopular Crypto TopicsPrice Predictions

Elon Musk Grok AI Just Made a Surprisingly Bullish XRP Price Predicts

Dario Amodei Claude AI Predicts What $1,000 in XRP Could Turn Into by End Of 2030

Microsoft Copilot AI Predicts When Bitcoin Could Finally Reach $100,000 In 2026

AI Predicts XRP: Claude Makes a Prediction that May Anger the Ripple Maxis

We Asked Sam Altman ChatGPT AI Where Bitcoin Will Be at the End of 2026

Industry Talk

Google Gemini AI Predicts an Unexpected Prediction on Ethereum By The End of 2026

1 day ago

by Ahmed Barakat

Price Analysis

Bitcoin Price Prediction: BlackRock Just Cut Its Bitcoin ETF Minimum by 96%

2 days ago

by Ahmed Barakat

Industry Talk

Mark Zuckerberg Meta AI Predicts Where SpaceX Stock Could Be in 5 Years

2 days ago

by Ahmed Barakat

In the Article

XRP

$1.4068

11.77 %

About Us

2M+

Active Monthly Users Around the World

250+

Guides and Reviews Articles

Years on the Market

International Team Authors

editors

+72 More

Authors List

At Cryptonews, we aim to make cryptocurrency, blockchain, and Web3 understandable, and information available to everyone, no matter what level you are in your investment journey. Founded in 2017, Cryptonews has been dedicated to delivering reliable, multilingual coverage of the cryptocurrency industry.

Best Crypto ICOs

Bitcoin Hyper

Visit

Maxi Doge

Visit

PEPENODE

Visit

SUBBD

Visit

Discover trending tokens still in presale — early-stage picks with potential.

Explore Our Tools

Crypto Converter

Visit

Crypto Tax Calculator

Visit

Crypto Profit Calculator

Visit

ETH Gas Tracker

Visit

Crypto Price Predictions

Visit

Crypto Prices

Visit

Smart tools made for everyday crypto users

Market Overview

Market Cap

$2,774,449,590,811

22.38%

Top

Trending

Losers

LooksRare Token logoLooksRare Token

$0.00196

1048.13%

PinLink logoPinLink

$0.04692

79.25%

KellyClaude logoKellyClaude

$0.00001

74.11%

Alon logoAlon

$0.00554

72.74%

DebtReliefBot logoDebtReliefBot

$0.00014

64.02%

Trending Crypto

Crypto Regulation News

Arizona Moves to Exempt Crypto From Property Taxes – Will Voters Approve This Tax-Break?

Hassan Shittu

Jan 27, 2026

Blockchain News

French Crypto Tax Platform Waltio Hit by 50,000-User Data Breach

Hassan Shittu

Jan 23, 2026

Anas Hassan

Crypto Journalist

Anas is a crypto native journalist and SEO writer with over five years of writing experience covering blockchain, crypto, DeFi, and emerging tech.

-=-=

DUCK? 5 26

New York Post

https://nypost.com › 2025 › 12 › 17 › us-news › crypto-billionaire-chris-larsen-backs-calif-gop-gov-candidate-after-betting-on-katie-porter

Crypto billionaire Chris Larsen backs Calif. GOP gov candidate -- after ...

Dec 18, 2025San Francisco crypto billionaire Chris Larsen insists he still supports hotheaded liberal ex-Rep. Katie Porter in the closely-watched California gubernatorial race — despite plans to donate t…

Mission Local

https://missionlocal.org › 2025 › 08 › trumps-crypto-friendly-sec-hands-big-reprieve-to-one-of-s-f-s-biggest-political-donors

Trump's crypto-friendly SEC hands reprieve to big S.F. donor

Aug 13, 2025Coinbase, another San Francisco-based cryptocurrency company that the SEC charged in 2023 with operating as an unauthorized securities exchange, has also said that it is benefitting from the government's new crypto-friendly attitude. Ripple is now "on the offense," said Larsen.

The Currency Analytics

https://thecurrencyanalytics.com › crypto-exchanges › ripples-bipartisan-commitment-chris-larsen-donates-10-million-in-xrp-to-kamala-harris-143060

Ripple's Bipartisan Commitment: Chris Larsen Donates $10 Million in XRP ...

Oct 23, 2024Ripple's commitment to bipartisan political support, co-founder Chris Larsen has donated $10 million in XRP to Vice President Kamala Harris's presidential campaign. This donation comes as Ripple's CEO, Brad Garlinghouse, emphasizes the necessity for politicians to embrace cryptocurrency and blockchain technology ahead of the pivotal 2024 elections. Ripple's Bipartisan Strategy On ...

ledgerlife.io

https://ledgerlife.io › ripple-co-founder-chris-larsen-makes-history-with-crypto-donation-to-harris-walz-campaign

Ripple Co-Founder Chris Larsen Makes History with Crypto Donation to ...

Oct 12, 2024Ripple co-founder and executive chairman, Chris Larsen, made a significant contribution to the Harris-Walz 2024 Presidential campaign by donating 1,754,815.29 XRP, equivalent to $1 million at the time of the donation. This marks a notable moment in political fundraising, being one of the first documented instances of a crypto contribution to the Harris campaign. The […]

paycot.com

https://paycot.com › blog › chris-larsen-ripple

Chris Larsen and Ripple: The Story of a Billionaire Who Defeated the ...

Mar 16, 2026Chris Larsen's journey from E-Loan to Ripple. As the co-founder of Ripple, he has amassed a fortune of \$13 billion, navigated legal battles with the SEC, and emerged as a key political donor in the United States in 2026. Analyzing the XRP asset and the "Internet of Values" strategy.

[

TheStreet

https://www.thestreet.com › crypto › policy › ripple-execs-divided-co-founders-harris-donation-vs-trump-support-from-ceo-

Ripple Execs Divided: Co-Founder's Harris Donation vs ... - TheStreet

Nov 8, 2024Ripple co-founder Chris Larsen has sparked controversy by donating over $10 million in XRP to Kamala Harris, a Presidential candidate whose party has generally been viewed as anti-crypto. This ...

chainaffairs.com

https://chainaffairs.com › ripple-co-founder-chris-larsen-invests-10m-in-xrp-for-kamala-harris-a-bold-move-for-crypto-innovation-ahead-of-2024-election

Ripple Co-Founder Chris Larsen Invests $10M In XRP For Kamala

Oct 24, 2024As the 2024 U.S. presidential election approaches, the cryptocurrency landscape is becoming increasingly intertwined with political maneuvers. Ripple co-founder Chris Larsen has taken a bold step in this arena, announcing a substantial donation of $10 million in XRP tokens to Vice President Kamala Harris, the Democratic nominee. This significant contribution underscores Larsen's belief in ...

1. [### Washington's Financial Noose: Can India and China escape Trump's Russian oil trap?

dnaindia.com

6h](https://www.dnaindia.com/world/report-washington-s-financial-noose-can-india-and-china-escape-trump-s-russian-oil-trap-3185241)

1. [

Amazon, Apple and Google are helping pay for Trump's $300m ballroom as donor list revealed

yahoo.com

9h](https://www.yahoo.com/news/articles/amazon-apple-google-helping-pay-103847656.html)

1. [

Full donor list unveiled for Trump's $300m golden ballroom

independent.co.uk

9h](https://www.independent.co.uk/bulletin/news/trump-white-house-ballroom-donors-b2851525.html)

1. [

Tech, crypto, tobacco, other companies fund Trump's White House ballroom

yahoo.com

1d](https://www.yahoo.com/news/articles/tech-crypto-tobacco-other-companies-160741250.html)

1. More News

More News

Source: you.com

Was this helpful?

Only include results for this site Redo search without this siteBlock this site from all resultsNEW

Share feedback about this site

CoinCentral

https://coincentral.com › ripple-tether-and-coinbase-fund-trumps-300m-white-house-ballroom

Ripple, Tether and Coinbase Fund Trump's $300M White House Ballroom

TodayCrypto giants Ripple, Tether, and Coinbase back Trump's $300M White House ballroom, reshaping political power through private funding.

Only include results for this site Redo search without this siteBlock this site from all resultsNEW

Share feedback about this site

Invezz

https://invezz.com › news › 2025 › 10 › 24 › ripple-tether-join-tech-donors-backing-trumps-300m-white-house-fundraiser

Ripple, Tether join tech donors backing Trump's $300m White House ...

TodayRipple,Tether, Coinbase on donor list of Trump's White House ballroom. Gemini co-founders Tyler and Cameron Winklevoss are also listed as major donors.

Only include results for this site Redo search without this siteBlock this site from all resultsNEW

Share feedback about this site

The Motley Fool

https://www.fool.com › investing › 2025 › 01 › 19 › president-elect-trump-just-gave-xrp-investors-some

President-Elect Trump Just Gave XRP Investors Some Great News for 2025

Jan 19, 2025The SEC recently submitted an appeals brief to continue its legal case involving Ripple Labs and XRP. But Ripple's leadership recently having dinner with president-elect Trump suggests a more ...

Only include results for this site Redo search without this siteBlock this site from all resultsNEW

Share feedback about this site

Yahoo Finance

https://finance.yahoo.com › news › trump-meets-top-ripple-executives-123025494.html

Trump Meets Top Ripple Executives - Yahoo Finance

Jan 8, 2025Leading executives of the blockchain-based company Ripple Labs met with President-elect Donald Trump, displaying strong bonhomie and potential cooperation for the future. What happened: On Tuesday ...

Author:Aniket Verma

Only include results for this site Redo search without this siteBlock this site from all resultsNEW

Share feedback about this site

POLITICO

https://www.politico.com › news › 2025 › 10 › 23 › trump-ballroom-donors-list-00620230

Tech, crypto, tobacco, other companies fund Trump's White House ...

1 day agoTech, crypto, tobacco, other companies fund Trump's White House ballroom The donor list includes several billionaires who have looked to curry favor with the Trump administration.

Only include results for this site Redo search without this siteBlock this site from all resultsNEW

Fortune

https://fortune.com › crypto › 2025 › 04 › 21 › donald-trump-inauguration-fund-crypto-coinbase-ripple-circle-18-million

Crypto firms gave $18M to Trump's inauguration. Ripple's ... - Fortune

Apr 21, 2025A hefty portion came from the crypto industry, which has been one of Trump's most vocal supporters: Crypto firms and their leaders gave $18 million in inauguration donations to the 47th president.

Only include results for this site Redo search without this siteBlock this site from all resultsNEW

Share feedback about this site

Bitcoinist

https://bitcoinist.com › ripple-leadership-dines-with-donald-trump

Ripple Leadership Dines With Donald Trump: What Was It About? - Bitcoinist

Ripple CEO Brad Garlinghouse and Chief Legal Officer Stuart Alderoty were spotted dining with President-elect Donald Trump at Mar-a-Lago on January 7, 2025.

Only include results for this site Redo search without this siteBlock this site from all resultsNEW

Share feedback about this site

MSN

https://www.msn.com › en-us › money › other › donald-trump-turns-pro-xrp-shares-ripple-labs-reports-on-truth-social › ar-AA1zmJWh

Donald Trump turns pro-XRP, shares Ripple Labs reports on Truth ... - MSN

Trump's posts on Truth Social garnered over 10,000 likes and 400 replies, with XRP enthusiasts saying the US President has "angered" Bitcoin maxis for publicly supporting Ripple's cause.

Only include results for this site Redo search without this siteBlock this site from all resultsNEW

Share feedback about this site

BeInCrypto

https://beincrypto.com › crypto-donations-xrp-ripple-trump-fund

Crypto Donations: Ripple Pledges $5 Million XRP to Trump

Dec 21, 2024Ripple donates $5 million in XRP to Trump's inauguration fund, joined by Coinbase, Kraken, and Ondo Finance with $1 million each. Exclusive donor perks include gala tickets, a Cabinet reception, and private events with Trump and VP-elect Vance. Crypto leaders push policy influence as SEC shifts leadership and Trump appoints a dedicated AI and Crypto Czar.

Only include results for this site Redo search without this siteBlock this site from all resultsNEW

Share feedback about this site

[

CCN.com

https://www.ccn.com › news › crypto › ripple-ceo-trump-2025-crypto-us-expansion

Ripple CEO Basks in Trump's 2025 Crypto Boom, Plans US Expansion

Jan 6, 2025Ripple CEO Brad Garlinghouse sees a U.S. business boost under Trump, with 75% of Ripple's open positions now based in the U.S.

Search Assist

Ripple is involved in funding Donald Trump's new $300 million White House ballroom project, alongside other major corporations from the tech and crypto industries. This partnership highlights Ripple's growing influence in U.S. politics and its support for Trump's pro-crypto policies. coincentral.com benzinga.com

mpu 10 25

It seems like the kind of thing that there might a trial over.