In a recent interview with CNBC, Brad Garlinghouse, CEO of Ripple Labs, expressed optimism about the future of cryptocurrency in the United States following the upcoming November elections. He emphasized that this election is pivotal, stating, “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.”
Garlinghouse highlighted the contrasting positions of key political figures on cryptocurrency. While Donald Trump has taken a notably supportive stance, branding himself as the “crypto president,” Vice President Kamala Harris has adopted a more nuanced approach. Garlinghouse noted that recent statements from Harris’s team have been among the most constructive regarding digital assets.
Unlike previous election cycles in 2012 and 2016, the cryptocurrency sector is now a significant topic in the 2024 elections. With the digital asset market booming, Garlinghouse anticipates that a new administration will bring increased support for cryptocurrencies. He criticized the current administration’s approach, stating, “No matter what happens, we’re going to leave behind a failed approach from the Biden administration,” pointing to perceived hostility from various regulatory bodies like the SEC and the Treasury.
Analysts within the crypto community are also predicting a potential market rally should Trump secure victory. The former president has indicated plans to include notable figures like Tesla CEO Elon Musk in his cabinet, further energizing crypto enthusiasts.
While Garlinghouse has not endorsed any candidate, he remains a staunch advocate for the cryptocurrency industry. He concluded with an optimistic outlook: “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.”
