Ripple CEO Brad Garlinghouse has revealed a significant shift in the company’s hiring strategy, with 75% of its open job positions now based in the United States. Garlinghouse attributed this change to the re-election of Donald Trump, stating, “Whatever you think, the ‘Trump effect’ is reviving the crypto industry.”
Ripple Expands Its U.S. Presence
Garlinghouse highlighted that, over the past four years, most of Ripple’s hiring was conducted outside the U.S. due to regulatory challenges under former SEC Chair Gary Gensler. However, this trend has reversed with Trump’s return to power.
“For Ripple, this is personal. Gensler’s SEC froze our operations for years. Now, we are growing again in the U.S.,” Garlinghouse said. He also noted that in the last six weeks of 2024, Ripple signed more deals in the U.S. than in the previous six months, signaling the company’s increasing influence in the American market.
Trump’s Crypto Plans Revitalize the Sector
Trump’s re-election has sparked a prolonged rally in the crypto market, with significant gains for major cryptocurrencies like Bitcoin (BTC) and XRP. XRP’s price surged by 330%, rising from $0.55 to $2.41.
Trump has pledged to make the U.S. the “capital of cryptocurrency,” including plans to establish a national crypto reserve and ensure all Bitcoin mining takes place domestically. While these ambitious goals have energized the market, former BitMEX CEO Arthur Hayes expressed skepticism about their feasibility, warning that delays could trigger sharp sell-offs.
A New Era for Crypto Companies
Despite uncertainties, the expectations surrounding Trump’s administration have created opportunities for Ripple and other crypto companies. Experts caution that while policies may take time to yield results, the current climate offers a promising start for the sector.
Stay tuned to Dey There for in-depth analysis and updates on how these developments shape the future of the cryptocurrency market.
