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Jimmy Aki
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Jimmy Aki
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Ripple CEO Brad Garlinghouse joined global crypto advocates on Wednesday, celebrating the success of pro-crypto candidates, including the re-election of Donald Trump, in the 2024 U.S. Presidential elections.
The electoral results raise hopes for clearer regulations, new crypto policies, and potentially a resolution in the Ripple vs. SEC lawsuit.
Ripple CEO Brad Garlinghouse Emphasizes Impact of ‘Crypto Voters’
The crypto industry now looks forward to more favorable policies with bipartisan support.
Garlinghouse took to social media platform X to acknowledge the influence of what he called the “crypto voter,” highlighting the success of pro-crypto candidates from both major parties.
“To everyone who doubted it: the crypto voter is here to stay, loud and clear!” he emphasized.
Prominent winners include Bernie Moreno, Ritchie Torres, Kirsten Gillibrand, and Andy Barr, illustrating how crypto policy now transcends traditional party lines.
Brian Armstrong, CEO of Coinbase, and other industry leaders echoed Garlinghouse’s sentiment, noting crypto’s growing impact on voter priorities.
The re-election of Donald Trump and other pro-crypto candidates could influence broader adoption of Bitcoin and other digital assets across the U.S. During his campaign, Trump signaled intentions to remove SEC Chair Gary Gensler, whose tenure has seen strict regulatory actions against the crypto industry.
This potential leadership change at the SEC may pave the way for resolving ongoing lawsuits, including the high-profile Ripple vs. SEC case.
Similarly, Paul Grewal, Chief Legal Officer at Coinbase, called on the SEC to reflect on the election’s message and shift from “litigation to collaboration.”
He hinted at the possibility of clearer regulations ahead, urging the SEC to prioritize rulemaking.
Crypto Community and Industry Leaders Welcome a New Era in Congress
According to data from Stand With Crypto, pro-crypto candidates saw widespread success in both chambers of Congress.
In the House of Representatives, 226 pro-crypto candidates won seats compared to 107 anti-crypto candidates, while the Senate now holds 14 pro-crypto lawmakers versus nine who are opposed.
These outcomes reflect the crypto industry’s influence, strengthened by substantial donations through Super PACs that likely swayed public opinion.
With a Republican majority now in the U.S. Congress, the crypto community is hopeful that policy changes will focus on digital asset clarity and stablecoin regulation.
The market responded positively, with XRP prices climbing 4.9% in 24 hours to trade at approximately $0.5329, while Bitcoin reached an all-time high above $75,000 as investors celebrated the election results.
Some forecasts project XRP could reach $1.10, with more optimistic scenarios predicting further growth.
Leaders like Justin Sun, founder of the Tron network, expressed hope for policies under Trump’s administration that would support industry growth.
As crypto-friendly voices grow in U.S. politics, the industry is optimistic about a regulatory climate that will drive innovation.
