Crypto CEO Chris Larsen Donates $500,000 to Support Political Moderate in Supervisors Race

The donation supports moderate Democrat Theo Ellington’s bid to replace progressive supervisor Shamann Walton in November.

Vehicles pass by City Hall in San Francisco on Aug. 8, 2023. Founder of cryptocurrency company Ripple Labs, Chris Larsen, has given millions to support Mayor Daniel Lurie’s political campaign, charter reform and policing initiatives earlier this year.  (Beth LaBerge/KQED)

Crypto billionaire Chris Larsen poured a record $500,000 into the campaign to elect Theo Ellington, a moderate Democrat, to the San Francisco Board of Supervisors this week, according to new finance filings. 

The donation is believed to be the largest in San Francisco history to a third-party supporting a single candidate. 

Larsen made the contribution, first reported by the San Francisco Standard, through a newly created political action committee called: “From the Neighborhood, For the City, Supporting Theo Ellington For District 10 Supervisor.” 

While individuals are limited to donating just $500 directly to a single candidate, donors routinely pour larger amounts into PACs. Ahead of the June election, billionaire Michael Moritz donated $250,000 to a GrowSF political action committee supporting District 4 supervisor Alan Wong.