Ripple accused of being anti-Bitcoin
Industry leaders are criticizing Ripple Labs and CEO Brad Garlinghouse after social media rumors surfaced that the CEO recently met with President-elect Trump. Ryan Selkis, the founder and former CEO of Messari, responded to the rumors by saying: “Brad Garlinghouse is shilling XRP and CBDC implementations’.
Pierre Rochard, vice president of research at Riot Platforms, reposted Selkis’ remarks. In his letter, “We can’t let Ripple co-opt the United States policymaking process with their anti-bitcoin agenda,”
Rochard agreed with Selkis and hoped the president-elect would include more Bitcoiners in his administration. The recent XRP rally, which saw the price of Ripple’s native currency soar by double digits, is thought to have sparked by the reported meeting between Trump and the Ripple CEO.
Brad Garlinghouse did not confirm or deny reports that he had met with Trump during an appearance on Fox Business. However, he was optimistic about the crypto industry’s prospects under the Trump administration, saying, “The crypto industry has embraced Trump; Trump has embraced the crypto industry.”.
He recognizes the opportunity, the innovation, the entrepreneurship, and I think it’s really sincere. ‘I’m really looking forward to what the future brings. “
The CEO of Ripple Labs added that he was not shocked by the cryptocurrency market’s bullish trend following the November 5 Trump victory. According to Garlinghouse, the primary reason for the repression of U.S.-based cryptocurrency projects was Securities and Exchange Commission (SEC) Chairman Gary Gensler’s animosity toward the sector.
The crypto industry and investors overwhelmingly supported President-elect Trump’s pledge to fire Gary Gensler on his first day in office. 18 US states, including Nebraska, Tennessee, Wyoming, Kentucky, West Virginia, Iowa, Texas, Mississippi, Ohio, Montana, and others, sued the SEC chairman in the aftermath of Trump’s win.
The theme of the lawsuit was that Gary Gensler’s “gross government overreach” against the cryptocurrency industry violated state rights.
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