Ripple CEO Brad Garlinghouse Hails “Crypto Voter” Era, SEC Lawsuit Conclusion

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As a seasoned analyst with years of experience navigating the tumultuous waters of the cryptocurrency market, I find myself increasingly optimistic about the future of Ripple and XRP following the recent US elections. The victory of pro-crypto candidates, particularly Bernie Moreno, Ritchie Torres, Kirsten Gillibrand, and Andy Barr, signals a significant shift in political priorities that could potentially lead to greater regulatory clarity and stability for the crypto industry.

Brad Garlinghouse, CEO of Ripple, expresses his delight alongside the crypto community as candidates supportive of cryptocurrency emerge victorious in the 2024 election and Donald Trump secures another term as president. This development paves the way for more defined crypto regulations, a resolution on stablecoin governance, an end to Operation Choke Point 2.0, and ultimately, a conclusion to the legal battle between Ripple and the U.S. Securities and Exchange Commission (SEC), including the ongoing lawsuit with Ripple.

Ripple CEO Brad Garlinghouse Celebrates ‘Crypto Voter’ Win

On U.S. Election Day, November 5th, Brad Garlinghouse, CEO of Ripple Labs, expressed his excitement for the triumph of cryptocurrency on a particular platform. It appeared that the previously underestimated voting block of crypto enthusiasts emerged as the winner in the U.S. elections, with candidates who were supportive of cryptocurrencies generally prevailing across both Republican and Democratic parties.

In a triumphant tone, Ripple’s CEO declared to his skeptics: “The presence of the crypto voter is not going anywhere; it’s resoundingly here!” He extended his warm congratulations to the victorious cryptocurrency advocates: Bernie Moreno, Ritchie Torres, Kirsten Gillibrand, and Andy Barr.

The crypto community, led by Coinbase CEO Brian Armstrong, observed that Bernie Moreno’s victory displaced Senator Sherrod Brown, a known adversary of cryptocurrency, from Ohio.

 

Bernie Moreno recognizes that cryptocurrency plays a significant role in shaping America’s future. He, along with fellow crypto enthusiasts who backed his victory, comprehend the potential benefits of cryptocurrency and are prepared to advocate for it vigorously. Here’s to the most pro-crypto Congress the United States has ever seen…

— Brian Armstrong (@brian_armstrong) November 6, 2024

Influenced by crypto’s rise as a major political topic, voting patterns in the recent U.S. election were impacted. The CEO of Ripple pointed out that the success of candidates like Bernie Moreno, Tim Sheehy, Ritchie Torres, Kirsten Gillibrand, and others who support cryptocurrency indicates a change in political focus.

Nevertheless, while it was disappointing that pro-XRP candidate John Deaton lost his bid against Senator Elizabeth Warren, this was the only piece of unfortunate news for the cryptocurrency community.

How Will US Election Result Impact Ripple Vs SEC Lawsuit?

The potential re-election of Donald Trump and pro-crypto candidates could significantly boost cryptocurrency and Bitcoin adoption. During his campaign, Trump expressed a desire to replace Gary Gensler as the Chair of the Securities and Exchange Commission (SEC). If Trump wins and Gensler steps down, the ongoing Ripple vs SEC lawsuit might be resolved sooner, potentially leading to clearer crypto regulations.

Paul Grewal, Chief Legal Officer at Coinbase, subtly suggested that the recent successes in the crypto space could potentially put an end to legal challenges against cryptocurrencies. He commented, “I’d wager that at least a couple of Supreme Court Justices are now considering their future plans.

It’s become clear that support for cryptocurrency policies is no longer exclusive to a single political party, as the Republican Party is approaching a majority in the U.S. Congress, according to data from The New York Times.

Lately, Brad Garlinghouse, CEO of Ripple, has announced a surge in institutional demand for XRP-related products, which seems to be eroding the US Securities and Exchange Commission’s standing and credibility. This upward trend suggests that an XRP ETF might be launched very soon.

According to recent updates in the XRP lawsuit, the U.S. 2nd Circuit Court of Appeals has allowed the Securities and Exchange Commission (SEC) additional time to submit their initial arguments, which they must do by January 15, 2025.

Over the past day, the value of XRP increased by 3%, currently trading at approximately $0.528. The lowest and highest prices within this period were $0.506 and $0.541 respectively. Notably, some prominent cryptocurrency experts anticipate that XRP’s price may reach $1.10, followed by a substantial surge beyond $6.

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2024-11-06 11:58