Donald Trump isn't even back in the White House, but Ripple CEO Brad Garlinghouse says he's seen traditional finance leaders get serious about their desire to engage with crypto.
In the six weeks since the 2024 presidential election, Ripple, which creates blockchain infrastructure for financial institutions, said it signed up more new customers than in the previous six months combined.
Garlinghouse said. Decrypt In an interview, many of these new traditional financial customers said that they are willing to participate in crypto in the United States because they are no longer afraid that doing so will bring. Legal problem.
“They didn't want to fight the fight,” Garlinghouse said of American trade firms under President Joe Biden. “[Crypto] It was one more headache they didn't want to deal with.
After the election, however, Trump did not continue to engage in digital assets. He promised.-Also appointed many pro-crypto entrepreneurs Key Cabinet PositionsGarlinghouse said the development sent an unmistakable signal to Wall Street.
“When you bring them in now, you see the writing on the wall,” Garlinghouse said of TradFi's leaders.
It is certainly no accident that the crypto industry now finds itself in a state of low risk and great opportunity. Last year, Garlinghouse and a handful of top US crypto executives successfully executed an unprecedented political playbook, pouring hundreds of millions of dollars into super PACs. Revised the 2024 election. And they strengthened the industrial political future in the United States.
The spoils of that war are influencing Ripple's hiring practices and attitudes. Garlinghouse Ripple is currently hiring more than 70 new positions in the United States, meaning 75 percent of the company's new job openings are located in the United States. That's a stark contrast to the past several years, when most of Ripple's new posts were based offshore due to regulatory issues.
Speaking about the health of the digital assets industry, Garlinghouse said: “It's not just measured by the price of crypto. “It's measured by employment, it's measured by signed contracts. These are the things that drive the economy, and you're already seeing it. [Trump’s] Even in the office.”
In the year There is much to be done for the industry after the President-elect is sworn in on January 20. crypto councila working group of industry leaders supported by venture capitalists David Sachs Provides advice on crypto policy and law.
Many crypto executives have already expressed interest Taking a seat at the desired table. When asked if he was tapped to serve on Trump's crypto council, Garlinghouse wouldn't say one way or the other — but added that he's met with the transition team and knows what they're planning when it comes to crypto policy in 2025.
“I feel really good about what I've learned on these plans and I'm really happy,” he said.
Edited by Andrew Hayward.
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