Ripple co-founder to pour $3.5M to support New York Democrat
AI
APRIL
XRP
SFT
RISE
Ripple co-founder Chris Larsen said he is going to spend $3.5 million to support the New York congressional Democrat candidate Alex Bores in the primary contests for the House, The New York Times reported on May 1.
Bores currently serves as a member of the New York State Assembly for the 73rd district and is running to represent New York's 12th district in the U.S. House of Representatives.
Related: Ripple quietly spends millions to oppose California's billionaire tax
Bores, who co-wrote legislation to regulate artificial intelligence (AI), is facing a sharp wave of combative advertisements from Leading the Future, a super political action committee (PAC) linked to industry leaders like OpenAI and billionaire crypto investor Andreessen Horowitz.
For instance, an advert from Leading the Future’s Think Big PAC called Bores "wrong on AI, wrong for Congress."
The AI giant opposes state-level regulation like those written by Bores and is more favorable to federal-level regulation.
Notably, he worked at Palantir Technologies for a few years but has turned into a critic of the AI industry. He co-sponsored the Responsible AI Safety and Education Act (RAISE Act) for AI safety which became a law last year.
More News:
- U.S. government reveals unique way to reduce soaring $39T debt
- Analyst predicts sharp XRP rally soon
- Bitcoin, XRP slide amid mixed Iran attack reports
Larsen supports Alex Bores
Larsen has called these attacks “really despicable” and said, “While some of these folks are going to try to crush you, others are going to step up, and we’re going to support you.”
An advert funded by Larsen attacks companies like OpenAI for attacking Bores and ignoring AI regulation that could save children from online violence and child sexual abuse.
Larsen said that though it was the first AI campaign he is supporting, it won't be the last.
Ripple is a major crypto company that has spent millions to back candidates friendly to the digital assets industry. The company has donated $93 million since 2023 to Fairshake, the crypto industry’s most popular PAC, the NYT report said.
