As Donald Trump prepares to take office, many expect his presidency to drive growth in the crypto market. His commitments are already creating momentum for US-based crypto businesses. Ripple CEO Brad Garlinghouse, for one, announced that the company achieved significant progress in late 2024.
In fact, the entity has signed more US deals in the final six weeks of the year than in the previous six months owing to Donald Trump’s victory in November’s US presidential election.
“Trump Bull Market”
In his latest tweet , the exec credited the post-election “Trump bull market” for the surge in activity and expressed optimism about Ripple’s future. Garlinghouse also revealed a major hiring shift, with 75% of Ripple’s open positions now US-based.
This is in stark change from the past four years when most hires were made internationally due to regulatory hurdles under Gary Gensler-led Securities and Exchange Commission (SEC), which reportedly froze Ripple’s “business opportunities” at home.
“Team Trump is already jumpstarting innovation and job growth in the US with Scott Bessent, David Sacks, Paul Atkins, and others at the helm, and they aren’t even in office yet! Say what you want, but the “Trump effect” is already making crypto great again – through his campaign, and in the Administration’s day 1 priorities.”
Ripple vs. SEC
Ripple has faced significant challenges from the SEC, which accused the company and its executives of raising $1.3 billion through an unregistered securities offering. The securities watchdog alleged Ripple violated investor protection laws by failing to provide adequate disclosures about XRP and its business practices.
Despite the blockchain entity agreeing to disclose all XRP-related data, the SEC’s demand for eight years of banking records was dismissed by a judge as overreach. After two years of litigation, a 2023 court ruling determined XRP was not a security in programmatic sales but could be classified as such in institutional fundraising contexts.
After years of throwing punches at each other, the legal proceedings may finally be over in 2025. Prominent American attorney Jeremy Hogan reiterated his previous sentiment and predicted that the Ripple vs. SEC legal battle could conclude by spring 2025, potentially by April or May.
With SEC Chairman Gensler expected to step down and Atkins, a crypto-friendly figure, likely to take his place, the outcome could have significant implications for both Ripple and the broader cryptocurrency market.
