- Ripple CEO Brad Garlinghouse faces backlash from crypto leaders over rumored Trump meeting and support for XRP.
- Industry critics accuse Ripple of promoting anti-Bitcoin policies and attempting to influence U.S. crypto policymaking.
- Garlinghouse expresses optimism for crypto’s future under Trump despite controversy and ongoing legal battles with the SEC.
Brad Garlinghouse, CEO of Ripple Labs, has come under fire from cryptocurrency executives after unverified claims surfaced about a meeting with President-elect Donald Trump. The speculation has ignited a debate within the crypto community, particularly among Bitcoin advocates critical of Ripple’s alleged influence on U.S. policymaking.
Ryan Selkis, former CEO of Messari, accused Garlinghouse of promoting XRP and central bank digital currencies (CBDCs). His comments were echoed by Pierre Rochard, vice president of research at Riot Platforms, who warned against Ripple’s potential sway over government crypto policies. Rochard advocated for the appointment of Bitcoin-friendly policymakers in the upcoming administration.
The rumors have coincided with a sharp increase in XRP prices, with the token experiencing double-digit growth.
Ripple CEO’s Perspective on Trump Administration
Although Garlinghouse declined to confirm or deny the meeting during an interview on Fox Business, he praised President-elect Trump’s support for the cryptocurrency industry.
Garlinghouse expressed optimism, stating that Trump recognizes the innovation and entrepreneurial potential of digital assets. He attributed the market’s positive reaction to Trump’s reelection to frustration with current SEC leadership, particularly Chairman Gary Gensler, whom Garlinghouse described as hostile to U.S.-based crypto projects.
Trump’s campaign promises to dismiss Gensler on his first day in office have gained widespread approval within the crypto sector.
Source: Pierre Rochard
Legal Challenges Loom Over SEC Leadership
Following Trump’s victory, 18 states, including Texas, Ohio, and Wyoming, filed lawsuits against Gensler. The lawsuits allege that his regulatory actions against the crypto industry represent “gross government overreach” and violate state rights.
The controversy highlights the broader conflict between federal regulators and the cryptocurrency industry, with Ripple and Garlinghouse at the center of the debate. As the Trump administration prepares to take office, the crypto community remains divided over the future of digital asset regulation in the United States.
