Ripple CEO Brad Garlinghouse reiterated his optimism toward the future of XRP and the entire crypto space after former President Donald Trump’s re-election. As the market anticipates the imminent restructuring of the Securities and Exchange Commission (SEC), Garlinghouse sees better days ahead.
Since the election, Garlinghouse has been sharing posts, reflecting on the potential changes the market is poised to witness under the new administration. Adding to the content, his latest X thread hinted at the possible progress XRP will see despite its previous struggles.
source: x
The Ripple CEO reflected on the platform’s challenging journey over the past few years. Ripple’s XRP token, which now holds the 7th position on CoinMarketCap, was once the 2nd largest cryptocurrency. Due to external pressures, including the SEC’s lawsuit, the platform and its token suffered.
Even while expressing his gratitude to the XRP community, Garlinghouse noted that the SEC’s involvement on XRP status has been frustrating.
In 2020, the SEC sued Ripple and its executives for allegedly violating the federal securities law and raising $1.3 billion through unregistered securities offer. After months of unending legal tussle, Ripple was able to secure a partial triumph over the SEC, with Judge Analisa Torres declaring XRP exempt from security classification. The legal saga, however, continues as both parties file appeals and counterclaims, keeping investors on edge as they await a final outcome.
Read also: Ripple’s XRP Escrow Explained: Dispelling Myths and Fears
Acknowledging Trump’s promise on firing SEC Chair Gary Gensler the first among his many priorities once he assumes office, Garlinghouse recommended appointing crypto-friendly candidates like former CFTC Chair Chris Giancarlo or ex-acting Comptroller of the Currency, Brian Brooks. He hopes that the SEC reformation with any of these leaders at the helm could bring in more regulatory clarity to the crypto space.
In parting,Garlinghouse remained hopeful and stated on X, “FINALLY we see a light at the end of the tunnel.” His optimism is driven by the fading external market forces, including the SEC’s stringent regulations.
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