Ripple CEO Brad Garlinghouse joined global crypto advocates on Wednesday to celebrate the success of pro-crypto candidates, including Donald Trump’s re-election. The 2024 U.S. election results boost hopes for clearer crypto regulations, new policies, and possibly a resolution to the ongoing Ripple vs. SEC lawsuit.
Crypto Voters Show Their Impact
Garlinghouse expressed his excitement on social media platform X, highlighting the influence of “crypto voters.” He celebrated the victories of pro-crypto candidates from both parties, emphasizing that “the crypto voter is here to stay, loud and clear!” Notable winners included Bernie Moreno, Ritchie Torres, Kirsten Gillibrand, and Andy Barr, which shows that crypto policy now crosses party lines.
Industry Leaders Embrace a New Era in Congress
Similarly, Brian Armstrong, CEO of Coinbase, echoed Garlinghouse’s sentiment, pointing to crypto’s increasing impact on voter priorities. He welcomed what he called America’s “most pro-crypto Congress ever,” with over 219 pro-crypto candidates winning seats. Clearly, voters have shown strong support for crypto-friendly policies.
Trump’s re-election, along with other pro-crypto wins, is expected to drive greater acceptance of Bitcoin and digital assets in the U.S. During his campaign, Trump also shared plans to replace SEC Chair Gary Gensler, who has enforced strict regulations against the crypto industry.
Calls for SEC Collaboration
In response, Paul Grewal, Chief Legal Officer at Coinbase, urged the SEC to recognize voters’ call for change. He encouraged the agency to move “from litigation to collaboration,” stressing that voters want a new approach. According to Grewal, the time for proactive rulemaking is now.
Pro-Crypto Candidates Gain Success in Congress
According to data from Stand With Crypto, pro-crypto candidates saw substantial success in Congress. In the House, 226 pro-crypto candidates won seats, compared to 107 anti-crypto candidates. Meanwhile, the Senate now includes 14 pro-crypto lawmakers versus nine who oppose it. These results reveal the crypto industry’s influence, further strengthened by significant Super PAC donations.
With a new Republican majority, the crypto community is hopeful for changes focusing on digital asset clarity and stablecoin regulation. The market quickly reacted to the election results, with XRP rising 4.9% to approximately $0.5329 and Bitcoin reaching a record high above $75,000.
Optimism for Crypto-Friendly Policies
Justin Sun, founder of the Tron network, voiced optimism about Trump’s administration, expressing hope for policies that will support industry growth. “Congratulations to President Trump on becoming the new U.S. President!” Sun stated, suggesting that regulatory changes could drive innovation.
As pro-crypto voices grow stronger in U.S. politics, the industry is optimistic about a regulatory landscape that promotes growth and technological progress.
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