Ripple CEO Brad Garlinghouse revealed that 75% of the company’s current open positions are US-based, attributing this shift to what he described as the “Trump effect” on the cryptocurrency sector.
Ripple CEO Thanks Trump Administration for Increased US-Based Hiring
In a post on X (formerly Twitter), Garlinghouse highlighted a renewed sense of optimism in the industry following Donald Trump’s re-election, which he said has already translated into tangible business growth for Ripple.
Garlinghouse noted that Ripple has focused primarily on hiring outside the U.S. for the past four years, noting the challenges posed by the company’s ongoing legal battle with the Securities and Exchange Commission (SEC) led by former Chairman Gary Gensler.
“For Ripple, this has become even more personal after Gensler’s SEC effectively froze our business opportunities here for years,” Garlinghouse said. “The optimism is clear and deserved.”
The company reportedly signed more deals in the US in the last six weeks of 2024 than it did in the previous six months, further highlighting its growing local focus.
A staunch advocate of cryptocurrency, Trump has vowed to make the U.S. the “crypto capital” of the world. His plans include creating a strategic national crypto hoard and ensuring that all Bitcoin mining is done domestically.
The crypto market has experienced significant growth since Trump’s re-election, with Ripple’s native token XRP surging by over 330% from around $0.55 to $2.41, according to XRP price data from The Block.
While many in the crypto world have greeted Trump’s administration with optimism, some remain cautious.
Former BitMEX CEO Arthur Hayes warned in a recent article that expectations for sweeping policy changes may be overly ambitious. Any delay in delivering on these promises could trigger a “vicious” sell-off in the market, Hayes suggested.
Trump is set to take office on January 20, and the crypto community is watching closely to see if his bold commitments will translate into actionable policies.
*This is not investment advice.
