Ripple Labs Sees Surge in US Operations Following Trump’s Election Victory
Ripple Labs, a leading cryptocurrency company, has experienced a significant increase in its US business activities since Donald Trump’s election victory. According to CEO Brad Garlinghouse, the company has seen a notable surge in its US operations, with 75% of its current job openings now based in the United States.
Increased US Presence: A Shift in Strategy
In recent years, Ripple, along with other major crypto firms, had begun investing in overseas operations, fearing a major clampdown in the US due to the Biden administration’s negative attitude towards crypto. The company had even secured operational licenses in Ireland and Singapore in late 2023 as part of its overseas plans. However, since Trump’s victory, Garlinghouse has noted a strategic shift towards the US market. This shift is attributed to the “Trump effect,” which suggests that the new administration’s favorable stance on cryptocurrency is fostering innovation and job growth within the United States.
Whales Accumulate Bitcoin: Market’s Positive Response
In addition to expanding its US workforce, Ripple has secured more American deals in the six weeks following Trump’s election than in the previous six months. This uptick is seen as a direct response to the anticipated crypto-friendly policies of the incoming administration. The cryptocurrency market has responded positively to these developments, with Ripple’s XRP cryptocurrency experiencing a significant increase in value since the election. The value of XRP shot from $0.50 to $3 in just one month following the election.
Conclusion
Ripple’s recent activities indicate a strategic realignment towards the US market, driven by the anticipated pro-crypto stance of the Trump administration. This shift is expected to have a lasting impact on the company’s operations and the broader cryptocurrency industry. As the US market continues to grow and evolve, it will be interesting to see how other cryptocurrency companies respond to the changing regulatory landscape.
Source: Fullycrypto.com
#Ethereum #Altcoin #NFT #Web3
The post Brad Garlinghouse Hails Trump Effect for Crypto appeared first on CoinBuzzFeed.
