Crypto Billionaire Chris Larsen Backs Katie Porter Despite Donations to Conservative Opponent Steve Hilton

Crypto Billionaire Chris Larsen Walks Political Tightrope in California Gubernatorial Race

In a surprising twist in California’s closely-watched gubernatorial race, billionaire Chris Larsen, co-founder of Ripple and a prominent figure in the cryptocurrency world, has publicly declared his support for hotheaded liberal ex-Rep. Katie Porter, even as he plans to donate thousands to her conservative opponent, Steve Hilton.

Larsen, whose net worth hovers around $10 billion according to Forbes, made headlines earlier this year when he contributed a maximum $39,200 to Porter’s campaign. However, in a recent interview with Politico, he revealed his intention to match that amount with a donation to Hilton, a former Fox News host and political newcomer.

Despite the apparent contradiction, Larsen insists his dual support is not influenced by recent viral videos showing Porter losing her cool during a campaign event, which have contributed to her declining poll numbers. “The viral video thing, the fact that that’s an issue is the stupidest thing I’ve ever heard,” he stated emphatically. “I mean, she’s tough. We need somebody who’s tough to take on the folks that are driving Sacramento.”

Larsen’s strategy appears to be a calculated gamble. He hopes both Porter and Hilton will advance from California’s top-two primary in June, setting the stage for a unique showdown in November. “I’m 100 percent behind Katie Porter, but I’ve met with Steve a couple of times, and I’d say they share something similar,” he explained, emphasizing their common focus on addressing California’s pressing issues, such as high living costs and burdensome regulations.

The tech entrepreneur criticized the current political climate, describing it as “way, way too vilified” and “divided.” He expressed concern over California’s one-party supermajority, suggesting that a diversity of political perspectives could lead to more effective governance.

Hilton, who has a background in business and government reform, echoed Larsen’s sentiments, stating, “Chris and I had a very good meeting of minds on the need for change in California, especially changing the business climate. It’s a complete nightmare in our state.”

Porter’s campaign has yet to respond to requests for comment, leaving many to wonder how she will navigate this unexpected political landscape.

Larsen’s political history is marked by contradictions; he has previously supported both moderate and progressive candidates in San Francisco, leaving some of his allies puzzled. His political activism intensified after a series of property crimes near his home in 2016, prompting him to become one of the city’s most aggressive political spenders.

As the gubernatorial race heats up, all eyes will be on how Larsen’s unconventional strategy plays out, and whether it will ultimately benefit either candidate in the high-stakes battle for California’s future.