Ripple $XRP is significantly expanding its presence in the United States, with 75% of new job openings focused domestically—a notable shift from the previous phase when most hires were made abroad.
This move comes amid rising expectations for a more friendly regulatory environment under the upcoming term of former President Donald Trump, who is expected to take office on January 20, 2025.
Ripple's CEO, Brad Garlinghouse, referred to this as the "Trump effect," alluding to the pro-cryptocurrency stance and potential deregulation policies that could emerge. On the social media platform X, Garlinghouse emphasized: "The Trump team has reignited the momentum for innovation and job creation in the U.S.," reflecting a belief in a more positive future for the blockchain and cryptocurrency industry.
He also pointed out that under the leadership of former SEC Chairman Gary Gensler, Ripple faced a "frozen" regulatory environment, limiting its ability to grow domestically. The company expects this to change after the election in November 2024.
New job openings are primarily related to engineering and product development, as part of Ripple's strategy to reinvest in the domestic market. This marks a reversal from previous years when the company considered relocating its global headquarters abroad due to regulatory concerns.
Not only Ripple, but other businesses are also adjusting their strategies to align with the new administration's pro-cryptocurrency policies. Mining company Hive Digital has announced its relocation from Canada to Texas, while Morgan Stanley is considering bringing cryptocurrency trading to the E-Trade platform, expecting to benefit from supportive blockchain policies.
Analysts predict that new policies could spur a wave of mergers, acquisitions, and investment in digital financial technology. Some investors believe that the prices of Bitcoin and other cryptocurrencies could reach record levels by 2030 thanks to anticipated reforms.
However, challenges remain. Price volatility, regulatory clarity, and public perception continue to be major barriers. Additionally, concerns about the environmental impact of mining activities also need to be addressed.
Nevertheless, supporters are optimistic that Washington will adopt a more constructive approach, promoting transparent cooperation between digital asset companies and regulators, paving the way for sustainable development in this field.
