Donald Trump Secures Victory As Ripple CEO Demands SEC Chair Be Replaced

Ripple Labs CEO Brad Garlinghouse has laid out a bold cryptocurrency agenda for President-elect Donald Trump, calling for significant changes to the Securities and Exchange Commission (SEC) and urging the administration to provide clarity on the status of ETH/USD.

After congratulating Trump on his victory, Garlinghouse outlined a set of priorities he believes should be tackled in the first 100 days of the new presidency. At the top of his list is removing SEC Chairman Gary Gensler, whom Garlinghouse criticized for his handling of crypto regulation.

Time For Change

Brad recommended replacing Gensler with one of three candidates he sees as more crypto-friendly, namely former CFTC Chairman Chris Giancarlo, former Acting Comptroller of the Currency Brian Brooks, or ex-SEC Commissioner Daniel Gallagher. According to Garlinghouse, any of these individuals would be a vast improvement in terms of restoring trust and clarity to the regulatory environment.

Garlinghouse also called on Trump to advance the digital asset market structure bill in the Senate, pushing for bipartisan support to ensure its passage. In addition, he urged the administration to clarify whether ETH should be classified as a security, an issue that remains unresolved and central to the ongoing debate around cryptocurrency regulation.

Why This Matters

The recommendations by Garlinghouse reflect his continued commitment to advocating for a regulatory environment that supports cryptocurrency innovation. His push for a bipartisan approach aligns with Ripple adopting a broader strategy of fostering cross-party collaboration on crypto policy.

Interestingly, Ripple has had a complicated political landscape, with executives making donations to candidates across party lines. While Ripple co-founder Chris Larsen supported Kamala Harris during the election, its legal head, Stuart Alderoty, made contributions to Trump-aligned groups.

Moreover, the advocacy by Ripple comes against the backdrop of its long-running legal battle with the SEC over the status of its native token, XRP. The outcome of this case could have far-reaching implications for the entire industry.