Brad Garlinghouse applauds ‘Trump effect’ as Ripple gains ground on US deals

As Donald Trump prepares to take office, many expect his presidency to spur growth in the crypto market. His commitments are already giving US-based cryptocurrency companies a boost. Ripple CEO Brad Garlinghouse announced that the company made significant progress by the end of 2024.

In fact, the entity has signed more deals with the US in the last six weeks of the year than in the previous six months due to Donald Trump’s victory in the US presidential election in November.

“Trump Bull Market”

In his latest tweet, the executive credited the post-election “Trump bull market” for the spike in activity and expressed optimism about Ripple’s future. Garlinghouse also revealed a major shift in hiring, with 75% of Ripple’s open positions now based in the United States.

This is a radical change from the past four years, when most hiring was done internationally due to regulatory hurdles under the Securities and Exchange Commission (SEC) led by Gary Gensler, who reportedly , froze Ripple’s “business opportunities” at home.

“Team Trump is already driving innovation and job growth in the US with Scott Bessent, David Sacks, Paul Atkins and others at the helm, and they’re not even in office yet! Say what you will, but the “Trump effect” is already making crypto cool again, through his campaign and in the administration’s day one priorities.

Ripple vs. SEC

Ripple has faced significant challenges from the SEC, which accused the company and its executives of raising $1.3 billion through an unregistered securities offering. The securities watchdog alleged that Ripple violated investor protection laws by failing to provide adequate disclosures about XRP and its business practices.

Although the blockchain entity agreed to disclose all data related to XRP, the SEC’s demand for eight years of bank records was dismissed by a judge as overreaching. After two years of litigation, a 2023 court ruling determined that XRP was not a security in programmatic sales, but could be classified as such in institutional fundraising contexts.

After years of throwing punches at each other, the legal proceedings may finally end in 2025. Prominent US attorney Jeremy Hogan reiterated his earlier sentiment and predicted that Ripple’s legal battle against the SEC could conclude in spring 2025, potentially April or May.

With SEC Chairman Gensler stepping down and Atkins, a cryptocurrency-friendly figure, likely to take his place, the outcome could have major implications for both Ripple and the broader cryptocurrency market.

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