Former Upbit CEO JP Thieriot publicly endorsed Kamala Harris for President late Thursday via a series of posts on X, causing significant backlash from prominent members of the crypto sector, including popular pro-XRP lawyer Bill Morgan.
Thieriot, who stepped down as CEO but remains a Director at Upbit, previously led the company through the controversial period following the SEC’s lawsuit against Ripple, choosing not to delist XRP—a decision he claims was “subsequently proven to be the right decision by the courts.” His recent statements mark his return to public discourse on the platform after more than two years of silence.
In his endorsement, Thieriot likened his support for Harris to his prior decision to keep XRP listed, suggesting both decisions were contrarian but ultimately correct. “Today, I’m making a similarly contra-directional, but hopefully equally sound and inevitably correct, announcement: I’d like to be the first crypto Founder and former CEO (that I’m aware of) to endorse Kamala Harris for President,” Thieriot stated.
According to Thieriot, the Harris campaign has signaled a willingness to “reset” relations with the cryptocurrency industry. This approach, he argues, presents a pivotal opportunity for the crypto community to engage constructively with potential future US leadership. “It is a critical moment to demonstrate that the door is open and that support will follow if she simply adopts the common sense approach that we are all advocating,” he stated.
Thieriot emphasized the strategic importance of being involved in policy discussions, irrespective of the political figure leading them. He noted, “In a 50/50 game, the only priority is having a seat at the table when policies are being formulated by the next President.”
He also countered the narrative that the crypto industry might be hostile to a Harris administration. Comparing the stance of Donald Trump and Kamala Harris on crypto, Thieriot suggested that Harris is likely more prepared to support the growth and innovation within this sector. “Kamala is a modern candidate able to understand that technology genies are never put back in bottles,” he explained.
The Upbit director also underscored the potential influence the crypto community could have on shaping the Harris campaign’s policies on digital assets. He urged for engagement rather than passivity: “There is a real opportunity to help shape the Harris campaign’s position on crypto. We’d do ourselves a major disservice by not engaging.”
Criticism From Pro-XRP Lawyer Bill Morgan
The endorsement quickly drew criticism from Bill Morgan, a respected lawyer within the XRP community. Morgan took issue with Thieriot’s premature endorsement given the lack of concrete commitments from Harris regarding cryptocurrency policy.
“Many people will simply turn on Uphold for this decision. The decision to keep XRP listed was a great decision but it was never an either/or choice between XRP and any other token,” Morgan stated, expressing concern over the implications of Thieriot’s political stance.
Morgan argued that endorsing a candidate without clear crypto policies is risky, particularly at a time when the industry faces significant regulatory challenges. “The choice between Trump and Harris is either/or. And you choose to endorse the candidate who at this point is part of a deeply anti-crypto Administration. At the least, you should have deferred the choice until you hear what are her policies on crypto,” he added.
Morgan also noted that Thieriot’s endorsement could be seen as giving something for nothing, rewarding Harris without securing any policy concessions in return. “Questionable choice at this moment. You are rewarding Harris without her committing anything in return on crypto. Something for nothing,” Morgan criticized.
At press time, XRP traded at $0.5632.
Featured image from Spectrum News, chart from TradingView.com
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