Ripple CEO Brad Garlinghouse talks about the impact of Donald Trump's re-election on US SEC lawsuit, XRP ETF launch, and crypto regulations.
Ripple CEO Insights on Donald Trump Re-Election
In an interview with BBC on November 8, Ripple CEO Brad Garlinghouse talks about XRP and crypto future as Donald Trump wins the US presidential election. As per a BBC video, the crypto industry is one of the biggest winners from Trump’s re-election to the White House. Amid Bitcoin hitting new all-time high, XRP saw big gains over the past few days and is trying to go mainstream with XRP ETF launch.
Brad Garlinghouse opens up about his recent post on X regarding a first 100-day crypto checklist for Donald Trump. The checklist includes firing US SEC Chair Gary Gensler and crypto regulatory clarity as he promised during election campaigns.
Ripple CEO on the US SEC Lawsuit End
Ripple CEO said the SEC Chair Gensler has waged a war against crypto, impacting the crypto industry in the country. Meanwhile, regulators in many countries such as Japan, the UK, Switzerland, and Singapore are leaning into crypto and created clear rules allowing regulated business growth and capital flow.
He added that regulators under the Biden administration were hostile towards crypto despite growth and global adoption. Moreover, he is also expecting a resolution or end of the SEC lawsuit against Ripple. Judge Analisa Torres declared that XRP in itself is not a security, but the government agency has appealed part of the ruling.
“Importantly, they are not appealing the part of the decision that says XRP is not a security. So, we feel very good about that law of the land of the United States is XRP is not a security.”
However, Brad Garlinghouse feels it is frustrating for the whole crypto industry is only Bitcoin and XRP have explicit regulatory clarity in the US. Other crypto such as Ethereum and Solana face scrutiny, criticizing the idea of litigating every single leading token.
Garlinghouse on the Need For Clear Crypto Regulations
Ripple CEO said the SEC under Gensler has taken the position that most crypto are securities. He explains with an example of owning Apple shares where investors get shareholding and ownership rights, but that doesn’t exist with crypto.
The key requirement is creating the needed clarity and rulemaking for crypto, with the SEC not having the authority the regulate crypto. The crypto is looking at potential launch of XRP ETF with the re-election of Donald Trump.
The SEC lawsuit has impacted XRP price growth. The price is currently trading at $0.553, up almost 25 in the last 24 hours and 9% this week. Experts and analysts claim XRP price can hit $2 in this bull cycle.
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