Ripple CEO Brad Garlinghouse believes the US is poised to become the global crypto capital, especially with potential Trump leadership.
Ripple CEO Brad Garlinghouse recently shared his views on the future of cryptocurrency in the United States. In a tweet on social media platform X, he expressed optimism that the US is poised to become the global crypto capital under the next Trump administration. Ripple CEO Brad Garlinghouse indirectly suggested that Gary Gensler may not serve as the Chairman of the SEC much longer. He spoke of what he termed ‘perhaps the last days’ of Gensler in office.
This comment came after Gensler’s speech, in which he urged the adoption of new rules for the Treasury and equity markets. He also emphasized enhancing transparency and governance in the growing cryptocurrency market.
However, Gensler fired shots at many cryptocurrencies, including Ripple’s XRP. He pointed out that 90% of the current cryptocurrencies have no practical applications besides trading and unlawful purposes. Gensler also pointed out that he has carried over 80 enforcement actions from his predecessors at the SEC, including the Ripple case.
Garlinghouse has a different perspective on things in the following manner. He thinks the shifting political environment may make the US the ‘crypto capital of the world’. He believes the crypto industry will thrive with the change in leadership. Specifically, he sees a more receptive climate under a potential Trump administration.
Ripple CEO Garlinghouse Calls for Gensler to Be Held Accountable
But what encouraged the crypto community specifically was Gensler’s parting shot. He appeared to be giving a farewell speech discussing his plans to bolster the US capital markets. This raised the question if Gensler is likely to step down from the SEC before Trump’s inauguration on January 20, 2025. However, Trump had pledged to sack Gensler on his first day in the White House.
Earlier, Garlinghouse said that Gensler should be “held accountable for ignoring the law” in the ongoing legal process between Ripple and the SEC. He also thanked the XRP community for their patience. Further, he pointed out that the process has been long and complicated since the SEC sued Ripple four years ago.
Before the election, Trump stressed the United States’ adoption of new technologies, including cryptocurrency and artificial intelligence. At the Economic Club of New York event, Trump reiterated his commitment to making the United States the world capital for cryptocurrencies.
