As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed numerous political transitions and their impact on various industries, including the cryptocurrency sector. Having closely followed Ripple‘s trajectory since its inception, I find myself intrigued by Brad Garlinghouse’s optimism regarding the 119th US Congress.
Given my background, I am well-versed in the politics of Washington and have learned to read between the lines. The fact that Garlinghouse has been openly praising the new administration, particularly the Republican-dominated Congress, suggests a calculated strategy rather than naive optimism. It is not uncommon for industry leaders to engage in diplomatic dialogue with political figures to further their business interests.
However, I must admit, the XRP army’s hopes for a swift resolution in Ripple’s legal battle with the SEC are not entirely unfounded. The departure of Gary Gensler and Trump’s pro-crypto choice for the new SEC chair could indeed pave the way for a more favorable outcome for Ripple. But let us remember, Washington is a town where promises are made to be broken, and change often takes longer than anticipated.
As for the rumors of Garlinghouse and Hoskinson meeting with Trump or his team, I remain skeptical until concrete evidence surfaces. Nonetheless, it is always fascinating to observe the dance between industry leaders and political figures in pursuit of their shared interests.
In closing, I can’t help but chuckle at the thought of Garlinghouse and Hoskinson playing chess with Washington’s power players while the rest of us watch from the sidelines. Perhaps one day, we too will have a seat at the table, but until then, we can only wait and see how this political chess game unfolds.
After a period marked by disagreements and intense situations, the 119th United States Congress was formally inaugurated, with the Republicans controlling both houses for the first time in six years.
On Friday, Mike Johnson, endorsed by Trump, won the position of U.S. House Speaker for another term in a close 218-215 vote during the initial round.
Many members within the cryptocurrency community expressed praise towards the incoming administration prior to Donald Trump’s inauguration next week, with Ripple’s CEO among them.
Here in the United States today, we greeted the 119th Congress, which is widely recognized as the most crypto-friendly Congress ever assembled.
As someone who has spent a significant part of my career in this industry, I can confidently say that the buzz I’m sensing now is unlike anything I’ve felt before. The journey we embark upon may be just starting, but the energy and excitement brewing around us are palpable. With years of experience under my belt, I know that the road ahead will not always be smooth, but I also know that it’s those challenging times that make the victories even sweeter. So, let’s roll up our sleeves, put on our game faces, and get to work. The future is bright, and I can’t wait to see what we’ll achieve together.
— Brad Garlinghouse (@bgarlinghouse) January 3, 2025
Following the elections in early November, Garlinghouse pointed out that U.S.-based cryptocurrency projects experienced significant gains due to Trump’s decisive win, as the Biden administration and SEC (Securities and Exchange Commission) have been less favorable towards these ventures. This is suggested by the dramatic rise in the value of assets such as XRP and ADA.
Furthermore, it became known that Ripple’s CEO and Charles Hoskinson of IOG allegedly held discussions about their role in the forthcoming cryptocurrency industry regulations with either Trump himself or members of his administration.
Despite the unverified nature of the rumors surrounding Garlinghouse, he has publicly lauded the incoming administration and the Republican-controlled Congress, referring to them as the most pro-cryptocurrency in historical terms.
The supporters of XRP are closely watching developments at the SEC, as Ripple has been involved in a lengthy legal dispute with this agency for four years now. This battle was still ongoing during Gensler’s tenure, but his recent departure, along with Trump’s appointment of a pro-cryptocurrency figure to replace him as SEC chair, has sparked optimism within the community that the case might reach a resolution more swiftly and potentially in a way favorable to Ripple.
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2025-01-04 11:04