Ripple CEO Brad Garlinghouse anticipates a shift in the cryptocurrency industry following the US presidential election on November 5.
Speaking recently to CNBC during the 8th Washington DC Fintech Week, Garlinghouse said that regardless of the election results, the cryptocurrency industry in the United States will see significant changes. In his opinion, the future of the crypto industry in the country seems to be assured, so he anticipates that, after the electoral contest, this industry will experience significant advances in its development and growth. “We are going to see progress and I am certainly looking forward to that”He said.
Garlinghouse stated that regardless of who wins the upcoming election, the crypto industry will experience a “reset,” reflecting his optimism about the future. the possibility of a change in regulation and in public perception towards cryptocurrencies in the country.
Garlinghouse believes that the current situation, marked by a hostile stance of the Joe Biden administration towards cryptocurrencies, could be transformed with the arrival of new leaders. During the interview, the CEO of Ripple also maintained that the industry has grown and evolved, and that voters are increasingly more informed about the importance of cryptocurrencies and blockchain technology. This increased crypto awareness among the electorate could influence future policies, leading to a more favorable environment for innovation and development of digital assets.
Garlinghouse weighed in on the presidential candidates
In the context of the elections, Garlinghouse has commented on the positions of the two main candidates: Donald Trump and Kamala Harris. The CEO of Ripple has highlighted that Trump has positioned himself as a defender of cryptocurrencies, promising to end what he considers an “illegal and un-American attack” on the industry. Garlinghouse has pointed out that Trump calls himself the “crypto president”, which could resonate positively with voters who support cryptocurrency adoption.
On the other hand, Ripple's CEO has mentioned that Kamala Harris, current vice president of the United States, has shown a more reserved approach towards cryptocurrencies. Thus, although she has recognized the importance of innovative technologies, her position on the regulation of digital assets has been less clear so far. Likewise, Garlinghouse has observed that Harris comes from Silicon Valley and has a pro-technology background, which could be indicative of its potential support for the cryptocurrency and blockchain industry in the future.
In an article published in this medium this week, a comparative of the political agendas of both candidates in relation to cryptocurrencies, detailing the vision that each has on the industry and contrasting how they plan to address its constant growth. From this perspective, the upcoming elections in the United States will not only determine who will occupy the office of the presidency, but also how the policies that affect the cryptocurrency industry and blockchain technology will develop.
Support for pro-crypto politicians
In addition to his comments on the future of cryptocurrencies and presidential candidates, Garlinghouse is also voicing his support for politicians who advocate for more crypto-friendly regulation in the country. Most notably, he recently voiced his backing for John Deaton, a pro-crypto attorney running for the Massachusetts Senate.
On social media, Garlinghouse praised Deaton for his tireless advocacy for XRP, Ripple's native cryptocurrency, and his commitment to the healthy development of the crypto industry.
At the same time, Garlinghouse criticized the actions of Elizabeth Warren, while urging his followers to support politicians like Deaton, due to the need for the crypto industry in general. have representatives who understand and promote a regulatory environment that encourages innovation and development.
On the other hand, Garlinghouse’s expressed support for pro-crypto politicians is not isolated and adds to the wave of support that other pro-crypto politicians have received from influential people in the industry. All of this reflects a growing mobilization within the sector to ensure that future policies are more favorable to the adoption of these emerging technologies.
The influence of cryptocurrencies on electoral mobilization
The growing mobilization of the crypto community around the 2024 elections underscores the importance of crypto assets in this space. According to Garlinghouse, voters who care about cryptocurrencies are increasingly willing to express their support for candidates who promote favorable policies, and he has pointed out that those politicians who ignore the disruptive potential of cryptocurrencies and blockchain technology could lose the support of a growing, informed and engaged voter base.
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