With Donald Trump winning the 2024 US Presidential Elections, the significant event has now set the stage for Clearer cryptocurrency regulations and the end of SEC’s hostility towards crypto.
Notably, Ripple CEO Brad Garlinghouse has also joined the celebrations of crypto candidates and Trump’s victory in the elections. He took to X on November 5 stating
“To everyone who doubted it: the crypto voter is here to stay, loud and clear!”
Notably, the underestimated crypto voter block emerged victorious in the US elections as the pro-crypto candidates in both parties mostly won. He congratulated crypto candidates Bernie Moreno, Ritchie Torres, Kirsten Gillibrand, and Andy Barr on their victory.
Coinbase CEO Brian Armstrong in an X post noted Bernie Moreno’s win in the Ohio Senate race against Sherrod Brown who is strongly against crypto. He noted, “Being anti-crypto is simply bad politics.”
He noted that Bernie Moreno understands that crypto is an important part of America’s future. “Bernie and the crypto owners who helped him secure this win understand how everyone can benefit from crypto and are willing to fight for it.”
Crypto as a significant political issue, largely impacted the voting in this election. While the victory of these pro-crypto candidates depicted a shift in political preferences, the only letdown for the crypto community was pro-XRP John Deaton’s defeat against Senator Warren.
Will Trump Drive Bitcoin Adoption
The comeback of Trump and the pro-crypto candidates will drive crypto and Bitcoin adoption. Notably, during his campaigns Trump had promised to fire Gensler on day one. With Gensler’s term expected to end soon, the Ripple vs SEC lawsuit could also soon see its completion and bring clearer regulation to the entire industry.
Coinbase CLO Paul Grewal also hinted that the ‘crypto win’ will help bring an end to the legal attacks against crypto. He noted, “I’m going to guess that at least a couple of Supreme Court Justices now feel free to make retirement plans.”
Institutional Interest In XRP Continues To Rise
Recently, Garlinghouse also shared that institutional interest in XRP products continues to rise while the US SEC loses its credibility and reputation over its hostility towards the industry which signals that XRP ETF launch might soon see materializing.
In the latest development in the XRP lawsuit, The Second Circuit Court of Appeals has ordered that the SEC must file its brief by January 15th, 2025, in its ongoing case with Ripple. XRP is up by 4% in the last 24 hours and is currently trading at $0.54. Various analysts predict a big bull run approaching for XRP.
