#Ripple CEO Brad Garlinghouse has highlighted the changing tides of crypto in the United States despite President-elect Donald Trump’s pending inauguration.
The cryptocurrency market is rallying, spurred by the “Trump effect,” as are businesses affiliated with the sector. The President-elect’s glaring embrace of nascent technological innovation has substantially improved the industry.
Garlinghouse acknowledged this stance in a recent tweet, insisting that the Trump effect is real. In a December 5 post, he added that the catalyst is “more personal” for the Ripple ecosystem amid the firm’s many regulatory impediments from the outgoing administration.
Trump Effect Steers Crypto Growth in the US
The Ripple CEO stated that Trump’s November election win has brought optimism to the crypto industry. Notably, the sector faced several roadblocks during the Biden administration, led by the outgoing Securities and Exchange Commission (SEC) boss Gary Gensler.
Garlinghouse concluded that Gensler’s SEC effectively suppressed Ripple’s growth on home soil. This analogy comes amid the years-long legal battle between Ripple and the agency over XRP’s classification as an asset class.
Meanwhile, Ripple has had a breath of fresh air since November, which is evident in the latest statistics Garlinghouse shared. He mentioned that Ripple has advanced its business scope in the United States amidst easing regulatory tension.
According to his tweet, 75% of Ripple’s open roles are now US-based. Notably, most of the fintech firm’s hires in the past four years were outside the United States.
Furthermore, Ripple has closed more business deals in the US since Trump’s November win than in the previous six months. With the trend, Garlinghouse inferred that Trump’s team and other key players have stimulated innovation and job creation within the borders of the US despite not resuming office yet.
