Ripple CEO Brad Garlinghouse is calling for unity within the crypto industry to support pro-crypto candidates in the upcoming 2024 US presidential election. He believes that it is crucial to counter the anti-crypto and anti-innovation stance taken by the Biden administration, particularly regarding blockchain technology. Garlinghouse emphasizes the need to support candidates who champion innovation and responsible regulation to prevent the US from falling behind on the global stage.
Garlinghouse took to X (formerly Twitter) to assert Ripple’s commitment to endorsing pro-innovation and pro-crypto candidates. He highlights the negative impact of regulatory overreach, particularly from the Securities and Exchange Commission (SEC), which he believes is pushing the US in the wrong direction. Garlinghouse advocates for a return to first principles in 2024, promoting transparency, innovation, and a compliance-first approach to address regulatory uncertainties and foster industry growth.
There are two Republicans and one Democrat who have gained attention as potential pro-crypto White House candidates. Entrepreneur Vivek Ramaswamy and Chairman Gary Gensler have criticized the SEC’s regulatory approach. Ramaswamy pledges to establish forward-looking rules to provide clarity and certainty for investors. Former Arkansas Governor Asa Hutchinson highlights the transparency of the crypto market and believes it is less attractive for illicit activities. On the Democratic side, Representative Dean Phillips acknowledges the potential of crypto and calls for standardized cryptocurrency transactions and the closure of tax loopholes.
Former President Donald Trump, despite his previous prediction of a crash in cryptocurrencies, has shown recent involvement in crypto. He has launched a non-fungible token (NFT) collection on the Polygon blockchain network, indicating ongoing interest in the industry. The support of these candidates by Ripple CEO Brad Garlinghouse and other industry leaders reflects their shared vision for a president who fosters innovation, encourages growth, and embraces the blockchain industry.
The endorsement of pro-crypto candidates by influential figures within the community holds the potential to unlock a new chapter of growth and development in the United States.
This News Article was automatically generated by Bob the Bot (AI)
| Information | Details |
|---|---|
| Geography | North America |
| Countries | 🇺🇸 |
| Sentiment | very positive |
| Relevance Score | 1 |
| People | Dean Phillips, Vivek Ramaswamy, Gary Gensler, Asa Hutchinson, Brad Garlinghouse |
| Companies | Ripple, X (formerly Twitter), Republican Party, Securities and Exchange Commission (SEC), Democratic Party |
| Currencies | None |
| Securities | None |
