Even before Donald Trump settles back into the Oval Office, a seismic shift is rippling through the world of finance. Ripple’s CEO, Brad Garlinghouse, reveals that traditional finance (TradFi) leaders are sharpening their focus on crypto, embracing opportunities they once feared.
In just six weeks following the presidential election, Ripple has onboarded more clients than in the previous six months combined! This surge showcases a growing eagerness among financial institutions to dive into the crypto realm.
Speaking with Decrypt, Garlinghouse noted a notable shift in attitude. Many financial players are now boldly ready to engage with crypto in the U.S., no longer daunted by the shadow of potential legal troubles.
“They didn’t want to deal with the hassle,” Garlinghouse remarked, referring to the TradFi firms during Biden’s administration. “For them, crypto was just another headache.”
However, since the election, Trump hasn’t just promised to support digital assets—he’s actively appointed seasoned pro-crypto entrepreneurs to high-profile positions. This decisive action sends a clear message to Wall Street that embracing crypto is not just safer; it’s the future.
“Now, when you engage with them, they see the writing on the wall,” Garlinghouse stated, emphasizing that the risks surrounding partnerships with firms like Ripple have diminished significantly.
The crypto landscape is benefiting from this newfound optimism, a change that is no coincidence. High-profile leaders like Garlinghouse have strategically invested hundreds of millions into super PACs, reshaping the political narrative surrounding crypto in the lead-up to the 2024 election.
This political momentum is already shifting Ripple’s hiring strategies. With over 70 new job openings, an impressive 75% are now based right here in the U.S., a stark contrast to previous years when most positions were overseas due to regulatory concerns.
“The health of the digital assets industry isn’t solely about market prices,” Garlinghouse pointed out. “It’s also reflected in hiring trends and contracts signed. These are the real engines of the economy, and we’re witnessing these shifts even before Trump takes office.”
There’s still a lot on the agenda for the crypto sector once the president-elect is inaugurated on January 20. Trump has vowed to establish the first-ever White House crypto council, led by venture capitalist David Sacks, which will focus on guiding crypto policy and legislation.
Many in the crypto community are eager to secure a place at this influential table. When asked if he’s been approached for a role on Trump’s crypto council, Garlinghouse remained coy but acknowledged he’s in close contact with the transition team, aware of their ambitious plans for crypto in 2025.
“I’m feeling incredibly optimistic and genuinely excited about what I’ve been privy to regarding these plans,” he concluded.
Edited by Andrew Hayward
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