Donald Trump was elected as the 47th President of the United States, and prominent figures in the cryptocurrency industry, especially Ripple, were quick to share their reactions and suggestions regarding the administration’s approach to digital asset regulation.
Ripple CEO Brad Garlinghouse posted a congratulatory message on social media, outlining a clear agenda for President Trump’s first 100 days in office, specifically targeting reforms at the U.S. Securities and Exchange Commission (SEC). Garlinghouse began his remarks with the words, “Congratulations, Donald Trump!” He then laid out a four-point action plan:
- Immediate Removal of Gary Gensler: Garlinghouse called on Trump to fire current SEC Chairman Gary Gensler “on Day 1, without delay,” citing a strong stance against the enforcement-focused regulatory framework that has characterized Gensler's tenure.
- Strategic Appointment at the SEC: Christopher Giancarlo suggested appointing crypto-friendly figures like Brian Brooks or Hester Peirce as Gensler’s successor, praising their potential to “rebuild the rule of law (and reputation)” at the agency.
- Bipartisan Collaboration on Legislation: The Ripple executive also noted that it is important to host bipartisan discussions to advance the digital asset market structure bill in the Senate.
- Clarity on Ethereum Status: In his closing remarks, Garlinghouse called on the administration to take a firm stance on classifying Ethereum similar to Bitcoin and XRP, stating that Ethereum is “not a security.”
Ripple’s Chief Legal Officer Stuart Alderoty struck a more diplomatic tone, acknowledging the tough nature of the campaign and its impact on democracy. “I thank both sides for a tough race and for reinvigorating the democratic process,” Alderoty said. Then, congratulating Trump, Alderoty recalled a previous meeting in San Francisco where the president-elect showed interest in Ripple’s story and understood crypto as a policy priority. “Let’s move quickly now to end the regulatory-enforcement approach we’ve endured in recent years and position the United States as the crypto capital of the world,” Alderoty added, advocating for a more supportive legislative environment.
*This is not investment advice.