Ripple CEO Brad Garlinghouse Expects ‘Forward Progress’ On Crypto After Election

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Julia Smith

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Julia Smith

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Julia is an experienced editor with a passion for covering a wide variety of beats. She loves all things politics and regularly covers regulatory updates on emerging technology here for Crypto News.

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October 23, 2024

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Ripple CEO Brad Garlinghouse expects “forward progress” in cryptocurrency regulation after the U.S. presidential election, which he discussed at Washington DC Fintech Week on October 23, 2024.

Speaking to the audience, Garlinghouse shared his views on the potential for regulatory shifts depending on the outcome of the election between Donald Trump and Kamala Harris.

Crypto Voters in Focus Ahead of U.S. Election

“I think that no matter what happens, we’re going to see a reset,” Garlinghouse said during the forum, noting that the current administration has taken what he described as a “hostile” approach to crypto regulation.

“We’re going to see significant movement forward, and I am certainly looking forward to that,” he added.

As both major candidates—Republican nominee Donald Trump and Democratic nominee Kamala Harris—work to court crypto voters, Garlinghouse’s comments come with less than two weeks remaining until the election.

Trump, in particular, has been a vocal critic of the Biden administration and the United States Securities and Exchange Commission (SEC), even vowing to fire SEC Chair Gary Gensler if elected.

“We will have regulations,” Trump stated at the Bitcoin 2024 Conference in Nashville, “But from now on, the rules will be written by the people who love your industry, not hate your industry,” he added.

Harris, meanwhile, promises balanced regulations for the digital asset sector, though she has yet to disclose the specifics of these policies.

Her outreach has also targeted key voter demographics, including Black male voters, where Trump has made inroads.

“She will ensure that digital asset owners and investors benefit from a fair regulatory framework,” a new agenda from the Harris campaign reads. “This will protect Black men and others participating in the market.”

Brad Garlinghouse Champions Pro-Crypto Regulation

Beyond his regulatory predictions, Garlinghouse has been an active supporter of pro-crypto candidates, contributing significantly to political causes.

Ripple donated $25 million to the digital asset PAC Fairshake earlier this year.

Most recently, the Ripple CEO endorsed Senator Elizabeth Warren’s challenger, John Deaton, in the upcoming Massachusetts election.

Deaton is seeking to unseat the staunchly anti-crypto lawmaker.

“@JohnEDeaton1 has been a relentless advocate for the XRP Army (aka XRP Family!) and the entire crypto industry. Meanwhile, his opponent, @SenWarren spreads misinformation and lies about crypto,” Garlinghouse said in an October 22 X post. “I endorse John enthusiastically and wholeheartedly in his run for Senate.”

As the 2024 election nears, the outcome remains uncertain regarding how many pro-crypto lawmakers will take office, leaving the crypto industry waiting to see what the future holds.