Donald Trump’s victory in the US presidential elections may end the case between Ripple (XRP) and the SEC.
Trump, who has a positive view on the crypto industry and said that he will make Bitcoin a strategic reserve in the USA, became the 47th president of the USA. Many actors from the industry, especially the CEO of Ripple, celebrated Trump’s victory.
Sharing a post on X on November 5, Ripple CEO Brad Garlinghouse said:
“To all the doubters: crypto voters are here to stay, loud and clear!”
Garlinghouse cited the involvement of pro-crypto candidates in both parties within the government. Ripple’s CEO congratulated pro-crypto candidates Bernie Moreno, Ritchie Torres, Kirsten Gillibrand and Andy Barr.
Trump’s election was interpreted in favor of Ripple.
Donald Trump brought hope to Ripple (XRP)
Republican presidential candidate Donald Trump made important statements about the crypto industry during the election round. Trump specifically stated that he would fire SEC Chairman Gary Gensler, who had his grip on Ripple and Coinbase. As a matter of fact, joy prevailed on the Ripple front with the expectation that Trump, who won the elections, would fulfill his promises.
Ripple CEO Garlinghouse emphasized that pro-crypto candidates will govern the USA. The famous CEO stated that the industry will get better and crypto-friendly regulations will be created.
Brian Armstrong, CEO of Coinbase, which was on the SEC’s radar, was also among those celebrating Trump’s victory. Armstrong noted that pro-crypto Moreno won against anti-crypto Sherrod Brown in the Ohio Senate race. Coinbase boss, “Being anti-crypto is just bad policy.”He commented on its shape.
The crypto industry’s only disappointment was the defeat of XRP supporter John Deaton to Senator Elizabeth Warren.
Coinbase CLO Paul Grewal, another name celebrating Trump’s victory, said the following about anti-crypto judges;
“I predict that at least a few Supreme Court Justices will now feel free to make retirement plans.”
The US Court of Appeals has ruled that the SEC must file a summary in its ongoing case with Ripple by January 15, 2025. Trump’s victory was interpreted as a sign that the SEC might take a step back in the XRP case.
