Saikat Chakrabarti loses congressional bid to candidate backed by Ripple’s Chris Larsen
Saikat Chakrabarti, a former Stripe engineer, finished third in the Democratic primary for California's 11th Congressional District. Despite spending nearly $10 million of his own money, he was unable to overcome the political machinery supporting his opponents. The race was influenced by significant contributions from the crypto sector, particularly from Ripple's Chris Larsen.
- ▪Chakrabarti received 14.9% of the vote, translating to 16,118 ballots.
- ▪State Sen. Scott Wiener led the primary with 41.3%, while Supervisor Connie Chan followed with 28.6%.
- ▪Pelosi endorsed Chan, and AOC did not endorse Chakrabarti.
- ▪The Abundant Future super PAC, backed by Larsen, targeted Chakrabarti's campaign.
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Saikat Chakrabarti loses congressional bid to candidate backed by Ripple’s Chris Larsen The former Stripe engineer spent nearly $10 million of his own money but finished third in the race to succeed Nancy Pelosi, as crypto money helped shape the outcome. Share Add us on Google by Editorial Team Jun. 3, 2026 window.sevioads = window.sevioads || []; var sevioads_preferences = []; sevioads_preferences[0] = {}; sevioads_preferences[0].zone = "01f21ccf-2092-46b1-9ac7-8c44cc782e0f"; sevioads_preferences[0].adType = "native"; sevioads_preferences[0].inventoryId = "c5700508-581b-472c-8fdd-a931cdbfc8e1"; sevioads_preferences[0].accountId = "1e47efc1-ec2d-4fca-a8b9-354e249e5095"; sevioads.push(sevioads_preferences); Saikat Chakrabarti, the former Stripe engineer and one-time chief of staff to…
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