Stripe Millionaire Loses Bid for Congress to Candidate Backed by Ripple Co-Founder
Decrypt·
60-second summary
Saikat Chakrabarti, a former Stripe engineer, loses his bid to succeed Nancy Pelosi in California's 11th congressional district to a candidate backed by Ripple co-founder Chris Larsen, who invested $500,000 in the campaign. Chakrabarti's loss marks a setback for progressive politics in the state, potentially influencing the future of cryptocurrency regulation in the US.
Former Stripe engineer Saikat Chakrabarti lost his bid to succeed Nancy Pelosi in California to a candidate backed by Ripple's Chris Larsen.