The US crypto industry benefits the most from Trump’s victory

During a recent appearance on Fox News, Ripple CEO Brad Garlinghouse spoke about the consequences of Donald Trump’s victory in the 24th US presidential election.

He believes that the US crypto industry will greatly benefit from a more “lawful” administration.

The US crypto industry won

Although it’s only been a week or so since it became official that the next US president will be self-proclaimed “crypto-choice” Donald Trump, the effects on the digital asset industry are more than evident, with total market capitalization added up. over $800 billion and reaching a new all-time high of over $3.2 trillion.

According to Ripple’s CEO, this is because the US crypto industry was attacked “for years” by the former administration and the Securities and Exchange Commission led by Gensler. Recall that the agency has launched numerous lawsuits against crypto companies, including Ripple, claiming that their native tokens are unregistered securities.

However, Gensler and the Commission have been unable to specify the exact nature of the crypto tokens and why they are supposed to be considered securities. There has been little or no regulatory clarity under the SEC’s current oversight, leading many industry experts to question the agency’s actions and motives.

Now, however, the picture looks completely different, Garlinghouse added, given that the so-called war on crypto will likely end under the Trump administration, and especially after Gensler’s expected exit from the SEC.

“Since election day, the best performing crypto assets are all US companies or US technologies. This should come as no surprise. The US SEC has been manipulating and pressuring these US companies and technologies American stocks, and now that pressure is coming off and they’re exploding higher.” – he pointed out.

Meeting with Trump?

After Charles Hoskinson of Cardano, rumors began to appear that Garlinghouse also met with Trump or some of his future representatives about his possible involvement in the establishment of crypto policy in the US. During his appearance on Fox News, he was asked if there was any merit to these speculations.

Although he didn’t exactly confirm, his response only added to the rumors about that meeting.

“I’m not going to go into too much detail here. We’ve been active throughout this election cycle in being very pro-crypto, pro-innovation.” He added that they have endeavored to work with friendlier government officials in order to get rid of the current regulation through enforcement.

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