- Ripple CEO Brad Garlinghouse reports a surge in US-based operations, with 75% of new roles now US-based and accelerated deal-making following Trump’s re-election.
- The anticipated appointment of pro-crypto figures like Paul Atkins to key positions signals a potential shift in regulatory approach, particularly regarding the SEC’s stance on XRP.
- XRP’s value has responded strongly to these developments, rising over 300% and securing its position as the third-largest cryptocurrency with a market cap of US$138.8 billion.
Donald Trump’s inauguration is just weeks away, and the crypto community is eagerly awaiting his return to the White House, with high hopes that he delivers on some of the pro-crypto promises he made.
Ripple CEO Brad Garlinghouse, one of the many potential beneficiaries of a less hostile US crypto approach – a little lawsuit with the US Securities and Exchange Commission (SEC) comes to mind – has taken to X (formerly Twitter) to share his anticipation.
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The CEO said that the Trump bull market “is real” and that it’s even more personal for his company, due to that lawsuit which held Ripple back in its US-based endeavours. This happened under Gary Gensler’s tenure as chair of the SEC, a role from which he is set to depart soon.
Ripple Increases US Hiring and Local Partnerships
Garlinghouse said the firm had already made changes following Trump’s re-election, such as increased hiring in the US and signing new deals.
75% of Ripple’s open roles are now US-based, while over the last 4 years, the vast majority of hires were outside the US. We signed more US deals in the last six weeks of 2024 (since the election) than the previous six MONTHS.
Brad Garlinghouse, Ripple CEOThe CEO of the company behind XRP also praised the incoming administration for “jumpstarting innovation and job growth in the US” and expressed his excitement over the appointments of Scott Bessent, David Sacks and Paul Atkins in crypto-related key roles.
All eyes in the crypto community are now on Trump and his team to follow through on promises made, like establishing a Bitcoin reserve and generally a more favourable approach toward the industry.
Say what you want, but the “Trump effect” is already making crypto great again – through his campaign, and in the Administration’s day 1 priorities.
Brad Garlinghouse, Ripple CEONew SEC Chair Could Bring End to XRP Lawsuit
The departure of Gensler from the helm of the SEC will see Paul Atkins, a former SEC Commissioner take the lead. Atkins is generally regarded as a pro-crypto choice, and there’s some hope that with his arrival the SEC vs Ripple lawsuit might finally come to an end.
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XRP, for one, has surged following Trump’s re-election, gaining over 300%, reaching highs of US$2.61 (AU$4.18), stopping short of breaking the all-time high set in 2018 when XRP traded hands for US$3.84 (AU$6.15).
It has also cemented its spot as third largest cryptocurrency by market cap behind Bitcoin and Ethereum, with a total market cap of US$138.8 billion (AU$222.5 billion).
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