Not with out some controversy and tense moments, the 119th US Congress was formally sworn in, with Republicans dominating each chambers for the primary time in six years.
Trump-backed Mike Johnson was re-elected because the US Home Speaker on the primary poll in a 218-215 vote on Friday.
Many within the cryptocurrency group have been fast to reward the brand new administration, even earlier than Donald Trump’s inauguration later this month, together with Ripple’s CEO.
As we speak, right here within the US, we welcomed the 119th Congress—higher often known as essentially the most pro-crypto Congress in historical past.
The journey is simply starting, however you may’t deny the vitality & pleasure already constructing throughout the business. Let’s get to work.
— Brad Garlinghouse (@bgarlinghouse) January 3, 2025
Shortly after the elections in early November, Garlinghouse famous that US-based cryptocurrency initiatives had benefited essentially the most from Trump’s landslide victory because the Biden administration and the SEC, particularly, had suppressed many such companies. This was evident from the skyrocketing costs of belongings like XRP and ADA.
Moreover, reviews began to emerge that Ripple’s CEO, alongside IOG’s Charles Hoskinson, had met with Trump or folks from his workforce to debate their involvement within the upcoming regulatory framework across the crypto business.
Though these rumors have been by no means confirmed by Garlinghouse himself, he has been overtly praising the upcoming administration, together with the Republican-dominated Congress, which he referred to as ‘essentially the most pro-crypto’ in historical past.
The XRP military is especially centered on the modifications within the SEC. The company and Ripple have been in a four-year-long authorized battle, which was nowhere close to its finish throughout Gensler’s tenure. Nonetheless, along with his departure in simply weeks and Trump’s pro-crypto alternative for brand spanking new SEC chair, the group is anticipating a faster and maybe extra favorable closure to the case.
The submit Ripple CEO Welcomes Most ‘Professional-Crypto US Congress’ in Historical past appeared first on CryptoPotato.