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Ripple Labs CEO Brad Garlinghouse is under fire from crypto executives after rumors surfaced of a meeting between him and President-elect Donald Trump. These allegations have sparked heated debates, with critics accusing Ripple of pushing a central bank digital currency (CBDC) agenda at the expense of Bitcoin.
Garlinghouse’s Role in Ripple’s Rise
Ryan Selkis, the former CEO of Messari, led the charge on social media, accusing Garlinghouse of “shilling XRP and CBDC implementations.” Selkis’ remarks were amplified by Pierre Rochard, vice president of research at Riot Platforms. He argued that Ripple was attempting to influence U.S. crypto policymaking with what he called an “anti-Bitcoin agenda.” Rochard further urged the incoming administration to include more pro-Bitcoin advocates in its team.
This controversy coincided with a notable surge in XRP’s price, which climbed by double digits. Market analysts speculate that the rumored Trump-Garlinghouse meeting might have fueled investor optimism around Ripple’s native cryptocurrency.
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Ripple CEO Praises Trump’s Crypto Stance
During a recent Fox Business interview, Garlinghouse neither confirmed nor denied meeting Trump but expressed optimism about the future of cryptocurrency under the president-elect.
“The crypto industry has embraced Trump, and Trump has embraced the crypto industry. He sees innovation, entrepreneurship, and opportunity. I’m very excited about what the future holds,” he said.
Garlinghouse attributed the recent struggles of U.S.-based crypto projects to SEC Chair Gary Gensler’s stringent regulatory approach. He argued that Gensler’s leadership has stifled innovation and contributed to an unfavorable climate for the industry.
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Trump’s pledge to remove Gensler on his first day in office has resonated across the crypto sector, with many viewing it as a turning point for the industry. This sentiment was further bolstered by a lawsuit filed by 18 U.S. states against Gensler, accusing him of “gross government overreach” in his actions against crypto firms.
As XRP continues to rally, Ripple faces mounting scrutiny over its broader goals and alignment within the crypto space. While some hail Trump’s promises and Garlinghouse’s optimism as a beacon of hope for the sector, others worry about potential shifts in regulatory power favoring Ripple’s vision at Bitcoin’s expense.
The coming months will reveal whether Ripple’s strategies and rumored connections shape the crypto landscape—or deepen divisions within it.
