Ripple Labs (XRP) Ceo Brad Garlinghouse claims that the US will be far “more pro-crypto” following the upcoming US election this November. “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.
The upcoming election will be a defining moment for the United States’ future with cryptocurrency. Both Kamala Harris and Donald Trump have issued stances on cryptocurrency, with the latter speaking far more supportive of the digital asset industry. “Obviously, Trump came out early and very aggressively in a pro-crypto [way] and said he’s the crypto president,” Garlinghouse added. “Team Harris have been more nuanced. This week, they had some of the most constructive things they have said publicly.”
While the cryptocurrency sector was a mute spectator in the 2012 and 2016 election cycles, it is a part of the 2024 elections. The digital asset world is booming and is expected to continue surging following the election results. The Ripple CEO added once a new administration enters office, the US will usher in new support for cryptocurrency. “=“No matter what happens, we’re going to leave behind a failed approach from the Biden administration,” he said. “It has been an attack, and it isn’t just the SEC. The [Office of the Comptroller of the Currency] is hostile towards crypto; the Treasury is hostile towards crypto.”
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Furthermore, most crypto analysts anticipate a market-wide rally if Trump wins the upcoming election. The Republican nominee previously labeled himself as the “crypto president.” He has also insisted that Tesla CEO Elon Musk will be a part of his cabinet if elected. As most in the crypto industry are aware, the X owner is also a huge crypto fan, even naming his future team “DOGE” if he joins Trump’s cabinet.
Brad Garlinghouse has yet to endorse a candidate but is a strong supporter of cryptocurrency. “…no matter what happens in this next election, we will have a reset,” Garlinghouse said. “We can debate the magnitude of that reset, and there’s lots of disagreement about that … We’re going to see forward progress, and I certainly am looking forward to that.”