Vice President Kamala Harris’s presidential campaign ended with significant financial challenges, accruing a $20 million debt despite raising over $1 billion during the election cycle.
If the SEC were to drop its legal appeal against Ripple, the price of XRP could see a substantial increase, enabling Harris to sell some of her donated XRP and cover her debt.
Federal Election Commission filings showed that the Harris campaign raised over $1 billion, more than double the funds raised by President-elect Donald Trump, whose campaign reported less than $400 million in fundraising with $36 million in cash reserves. Despite this, the democratic committee faces a $20 million debt, leading Trump to urge unity in the face of political challenges.
In a post, Donald Trump stressed the importance of unity and collaboration among political figures, transcending party lines. This call for assistance, known for its fierce partisanship, marks a departure from the typical U.S. political discourse. However, critics have met this perspective with skepticism, questioning the sincerity and motives behind calls for unity.
Discussions have arisen regarding the potential use of Harris’s donated XRP assets to cover campaign debts, amidst the legal battle between Ripple Labs and the SEC. The SEC claims XRP is a security that should be regulated as such. If the SEC were to drop its ongoing litigation against Ripple, many analysts believe XRP’s value could rise.
The proposal becomes intriguing if Harris can sell her XRP during a price surge resulting from a favorable legal outcome, potentially reducing her campaign debt significantly. However, the complex legal landscape surrounding XRP complicates this scenario.
Legal expert Marc Fagel, a former SEC attorney, discussed the implications of such a sale. He mentioned that Harris’s sales would not require SEC registration if they are not directly linked to the issuer of XRP. This distinction is crucial as it allows for different asset management approaches, especially for political figures like Harris seeking financial solutions.
Despite the drawn-out legal battle lasting over four years, the Ripple community remains frustrated. Ripple’s price remains stable at around $0.55, with trading volume surging by over 108% in a single day.