Ripple CEO: 75% of Job Openings Now in the US Thanks to the “Trump Effect”

Ripple CEO Brad Garlinghouse has announced that 75% of Ripple’s open positions are now in the US, due to the optimistic sentiment in the crypto sector in light of the upcoming Trump administration.

In a post on X (formerly Twitter), Garlinghouse stated: “Say what you will, but the ‘Trump Effect’ is already making crypto great again – through his campaign and the administration’s priorities from day one.”

Background: SEC lawsuit and Ripple’s global orientation

Over the past four years, Ripple has made the majority of its hiring outside the United States due to an ongoing legal dispute with the U.S. Securities and Exchange Commission (SEC), headed by Gary Gensler, who recently resigned. This conflict has significantly limited Ripple’s business opportunities in the United States, Garlinghouse said.

“This is particularly personal for Ripple, as the SEC has effectively frozen our business opportunities here for years,” the CEO emphasized.

New Dynamics in the USA

According to Garlinghouse, Ripple closed more deals in the US in the last six weeks of 2024 than in the previous six months. This development reflects the increased confidence in the new administration.

Crypto markets have also seen a significant upswing since Trump’s re-election. Bitcoin and other cryptocurrencies have reached record highs during this period. For example, Ripple’s XRP price has increased by 330%, from around $0.55 to $2.41.

Trump’s crypto agenda

Trump has announced his intention to make the US the “crypto capital of the world.” His plans include a strategic national crypto stockpile and ensuring that all Bitcoin is mined in the US. With the inauguration on January 20, 2025, the industry is hoping for more crypto-friendly policies.

However, experts like former BitMEX CEO Arthur Hayes warn against having excessive expectations. Hayes predicts that potentially slow progress in crypto regulation could lead to a “severe” sell-off.

Conclusion

The positive mood surrounding the Trump administration opens up new opportunities for Ripple and the entire crypto industry. However, it remains to be seen how sustainable this development is and whether the political promises can be implemented in the short term in office.

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(Featured image by vjkombajn via Pixabay)

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