Brad Garlinghouse, Ripple CEO, expressed confidence that the upcoming US elections will lead to a more cryptocurrency-friendly Congress, enhancing support for the industry regardless of the election outcome.
- Election Impact on Crypto: Garlinghouse highlighted the significance of the 2024 election for the crypto industry, predicting a shift towards more supportive legislation: “This is the most important election we’ve had, but I also believe no matter what happens, we’re going to have a more pro-crypto, more pro-innovation Congress than we’ve ever had,” he said in a Wednesday interview with CNBC.
- Bipartisan Support: Both presidential candidates have shown varying levels of support for cryptocurrency. Donald Trump has been vocal about his pro-crypto stance, dubbing himself the “crypto president,” while Kamala Harris’s approach has been more measured but increasingly constructive.
- Criticism of Current Policies: The Ripple CEO criticized the Biden administration’s approach to crypto, citing attacks from various regulatory bodies like the SEC, OCC, and the Treasury Department.
- Potential Market Rally: Analysts anticipate a significant rally in the crypto market if Trump wins the election, bolstered by his supportive stance and potential inclusion of notable crypto advocates like Elon Musk in his administration.
- Forward-Looking Statements: Despite not endorsing a specific candidate, Garlinghouse is optimistic about the future of cryptocurrency in the US and expects positive changes post-election.
The Ripple CEO’s comments reflect a broader sentiment within the crypto community of impending positive shifts in US cryptocurrency policy following the election. This optimism hinges on the anticipation of a more favourable and innovative legislative environment that could propel the industry forward.
