Trump turns pro-crypto, Ripple CEO reacts

Ripple CEO Brad Garlinghouse highlights Donald Trump's shift from crypto critic to supporter, boosting optimism in the digital asset industry.

Ripple CEO Brad Garlinghouse has highlighted the warming relationship between President-elect Donald Trump and the cryptocurrency community. In an interview on 60 Minutes, Garlinghouse acknowledged that while Trump was once skeptical of cryptocurrencies, he now openly supports the industry, and the feeling appears to be mutual.

Trump’s earlier stance on Bitcoin was far from friendly. Back in 2021, he labeled Bitcoin a scam, arguing it posed a threat to the U.S. dollar’s dominance. Trump expressed his desire for the dollar to remain the world’s primary currency, and his comments sparked criticism from some within the crypto community.

However, Trump’s perspective seems to have shifted dramatically. When asked about this transformation, Garlinghouse avoided delving into Trump’s past views but instead emphasized the present, stating, “Donald Trump embraced crypto, and crypto embraced Donald Trump.” This acknowledgment underscores the significant change in Trump’s approach toward the digital asset space.

During his presidential campaign, Trump consistently voiced his support for the cryptocurrency sector. He outlined plans to foster crypto adoption in the United States and pledged to implement pro-crypto policies if elected. Since winning the presidency, he has already begun taking steps to fulfill these promises.

One of Trump’s notable actions was appointing several crypto-friendly individuals to key positions in his administration. Among them was Paul Atkins, a well-known supporter of digital assets, who replaced Gary Gensler as chairman of the U.S. Securities and Exchange Commission (SEC). This move was seen as a clear signal of Trump’s commitment to fostering a more crypto-friendly regulatory environment.

The impact of Trump’s crypto-positive actions has been profound. His support has fueled optimism in the market, with Bitcoin reaching new milestones and gaining wider acceptance among investors. The crypto community views Trump’s leadership as an opportunity for the industry to achieve greater recognition and regulatory clarity in the United States.

Garlinghouse’s remarks reflect the growing alignment between Trump and the cryptocurrency world. While the reasons for Trump’s change of heart remain unclear, his current support for digital assets has undoubtedly bolstered confidence within the industry. As his presidency unfolds, the crypto community will likely continue to watch closely, hopeful that Trump’s actions will further legitimize and advance the adoption of digital currencies.