“Combatting financial innovation only helped protect those that wanted to keep an old, often broken, system in place,” Garlinghouse said. “It never made policy, legal or political sense.”
He added that the “Anti-Crypto Army” was defeated by court rulings, voters and Trump.
Ripple’s Problems With The Biden Administration
Garlinghouse fiercely criticized the previous administration and former SEC Chair Gary Gensler for making it difficult for cryptocurrency companies in the U.S.
Ripple was locked in a nearly five-year-long legal battle with the SEC over the status of XRP, a cryptocurrency at the center of the company’s operations.
Have Things Changed?
Trump claimed credit for “saving” the industry and turning America into the “cryptocurrency capital of the world.”
However, policy wins have repeatedly failed to translate into sustained price recovery. Bitcoin hit $126,000 last year, but has since dropped to around $73,000—down roughly 42%.
Price Action: At the time of writing, XRP was exchanging hands at $1.31, up 1.84% in the last 24 hours, according to data from Benzinga Pro.
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