Ripple Labs and its CEO, Brad Garlinghouse, are under fire from industry leaders following social media chatter about a rumored meeting between Garlinghouse and President-elect Trump. Messari founder and former CEO Ryan Selkis weighed in on the speculation, saying, “Brad Garlinghouse is pushing XRP and CBDC implementations.”
His remarks gained further attention after Pierre Rochard, Riot Platforms’ VP of Research, reposted them. Rochard supported Selkis’ stance, saying, “We can’t let Ripple take control of U.S. policymaking with their anti-Bitcoin agenda.”
He also hoped that the President-elect would bring more Bitcoin advocates into the administration. People think that speculation about a meeting between Ripple’s CEO and Trump drove the recent XRP rally, which led to a significant double-digit price surge for Ripple’s native token.
Ripple CEO hails Trump’s pro-crypto stance
In a recent interview with Fox Business, Garlinghouse avoided confirming or denying rumors about meeting with Trump. Instead, he focused on expressing optimism about the crypto industry’s prospects under the Trump administration:
The crypto industry has embraced Trump; Trump has embraced the crypto industry. I think it’s very genuine, and I think he sees the opportunity, he sees innovation, he sees entrepreneurship — I am very excited about what the future holds.
Ripple Labs CEO Brad Garlinghouse said he wasn’t surprised to see crypto markets react positively following Trump’s victory on Nov. 5. He pointed to SEC Chairman Gary Gensler’s aggressive stance toward the crypto industry as a significant factor holding back U.S.-based crypto projects. President-elect Trump promised to remove Gary Gensler from his position on his first day in office, a move that gained strong backing from the crypto community and investors.
After Trump’s reelection, 18 U.S. states, including Nebraska, Tennessee, Wyoming, Kentucky, and Texas, filed a lawsuit against Gensler. Additionally, the states accused him of overstepping federal boundaries and infringing on state rights through excessive regulatory actions targeting the crypto industry.
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