Ripple CEO Says Former SEC Chair's "Hypocrisy is Shocking"

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Ripple CEO Brad Garlinghouse Defends Kamala Harris Amid Crypto Backlash – Crypto News

Published

1 year ago

July 25, 2024

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Ripple CEO Brad Garlinghouse has called for a clear stance on crypto regulation from Vice President Kamala Harris. His comments come amid a growing debate about the current administration’s approach to digital currencies and the VP’s reported exit from the upcoming Bitcoin Conference 2024. With the crypto industry keenly watching political developments, Garlinghouse’s remarks highlight the sector’s need for supportive and clear policies.

Ripple CEO Brad Garlinghouse Keeps Open-Minded Approach

In a recent X post, Brad Garlinghouse emphasized the importance of evaluating candidates based on their policies rather than political affiliations. He urged the crypto community to keep an open mind about Vice President Harris.

Meanwhile, the Ripple CEO pointed out that Harris, with her Silicon Valley background, has a unique opportunity to reset critical issues like crypto regulation. However, he warned that if Harris adopts a stance similar to Senate Elizabeth Warren, she could miscalculate the political liability posed by SEC Chairman Gary Gensler.

Notably, his comments come against the backdrop of the Biden administration’s anti-crypto stance. This move has contrasted with Donald Trump’s recent pro-crypto position as a presidential candidate.

Besides, Kamala Harris has recently faced criticism for her reported absence from the upcoming Bitcoin Conference 2024. This move has dampened hopes that she might be softening her stance on crypto regulation.

Also Read: Sen Cynthia Lummis Likely To Introduce New Bitcoin Bill For US Strategic Reserve

Crypto Community Reacts

The recent comments from Brad Garlinghouse seem to have bolstered market sentiment. However, the crypto community has expressed frustration with the current U.S. administration’s approach towards the digital assets space. Bitcoin Magazine CEO David Bailey recently confirmed that Harris would not be speaking at the Bitcoin Conference 2024.

Additionally, he cited her actions against the cryptocurrency industry, including policies that have imprisoned developers and driven the industry overseas. Bailey remarked that Harris’ presence at the conference would have been disastrous. Simultaneously, crypto influencer Tony Edward also criticized Harris’ decision, calling it an “epic mistake.”

Meanwhile, many crypto market enthusiasts were initially optimistic about Harris’ possible participation in the conference. They saw it as a sign of her softening stance towards digital currencies. However, Bailey’s confirmation of her absence has reignited criticism and disappointment among the community.

However, Brad Garlinghouse’s call for clarity and open-mindedness contrasts sharply with the broader sentiment in the crypto industry. While many see the current administration’s approach as a hindrance, the Ripple CEO believes that a clear and supportive stance on crypto regulation could enhance U.S. competitiveness. His comments underscore the industry’s need for policies that promote innovation and stability.

Having said that, it appears that Brad Garlinghouse’s open-minded approach has lifted the spirits of some investors. He believes that jumping to conclusions without clear policy proposals is holding the crypto industry back, much like “tribalism” has done for years.

Also Read: XRP Lawyer Deaton Reveals Unexpected BTC, ETH and XRP Holdings