Ripple Refocuses on US Amid ‘Trump Bull Market’
In 2023, Ripple CEO Brad Garlinghouse said the company was looking outside the United States for new workers. Now, he’s changed his tune.
Garlinghouse told Bloomberg at a conference in Singapore in September 2023 that Ripple would source 80% of its workforce from countries he said are better at regulating cryptocurrency.
“It’s super frustrating that you see markets like we have here in Singapore … where the governments are partnering with the industry, and you’re seeing leadership providing clear rules, and you’re seeing growth,” he said at the time. “And frankly, that’s why Ripple is hiring there.”
Now, with a new administration set to take power, Garlinghouse’s attitude is different.
“2025 is here and the Trump bull market is real,” Garlinghouse wrote Sunday (Jan. 5) in a post on social platform X. “For Ripple, this is even more personal after [Securities and Exchange Commission Chair Gary] Gensler’s SEC effectively froze our business opportunities here at home for years. The optimism is obvious and very deserved.”
“We signed more US deals in the last six weeks of 2024 (since the election) than the previous six MONTHS,” he added in the post. “…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.”
2025 is here and the Trump bull market is real. For Ripple, this is even more personal after Gensler’s SEC effectively froze our business opportunities here at home for years. The optimism is obvious and very deserved.
Today:
75% of Ripple’s open roles are now US-based, while…— Brad Garlinghouse (@bgarlinghouse) January 5, 2025
Trump’s pro-crypto attitude has helped propel bitcoin, the most popular digital currency, to record prices. Some experts predict the value will go even higher this year, reaching or even exceeding $200,000.
Elitsa Taskova, chief product officer at crypto lending platform Nexo, told CNBC last week her company sees bitcoin more than doubling to $250,000 during 2025, with cryptocurrency’s market capitalization eventually exceeding that of gold.
This year could find the crypto market at a crossroads, PYMNTS wrote last week. If its proponents are right, the industry could see growth, and more institutional investment, regulatory clarity and real-world use cases for cryptocurrencies.
“However, if the bears prevail, we may witness a volatile market, regulatory crackdowns and a continued struggle to overcome the technology’s shortcomings,” the report said.
Global financial giants are already looking to blockchain for solutions such as cross-border payments and settlement systems, offering liquidity for crypto markets and shoring up their utility in traditional finance.
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