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Cryptocurrency News Articles
Ripple Labs CEO Brad Garlinghouse Faces Criticism After Reportedly Promoting XRP and CBDC Policies at a Rumored Meeting with the Republican Party President-elect Donald Trump
Nov 18, 2024 at 05:15 am
Rumors about Garlinghouse's alleged meeting with Trump began circulating on social media on November 16 after the CEO appeared in an interview with FOX Business.
Ripple Labs CEO Brad Garlinghouse is facing heat from the crypto industry after reportedly promoting XRP and discussing central bank digital currencies (CBDCs) in a rumored meeting with Republican Party President-elect Donald Trump.
The news of Garlinghouse’s alleged meeting with Trump began circulating on social media on November 16 after the CEO appeared in an interview with FOX Business.
While Garlinghouse neither confirmed nor denied the news, the reported meeting coincided with XRP’s double-digit rally to $1.
Crypto Industry Reacts to Garlinghouse’s Alleged Trump Meeting
Although Garlinghouse expressed his optimism about the digital asset landscape’s future under Donald Trump’s administration, citing the President-elect’s pro-crypto stance, industry executives didn’t welcome the news of his reported meeting and took to Twitter (NYSE:TWTR) to call the CEO out.
Among the first observers to express their discontentment with the alleged development was former Messari CEO Ryan Selkis, who accused Garlinghouse of “shilling XRP and CBDC implementations.”
Reposting Selkis’ comments to his thousands of followers, Riot Platforms’ Vice President of Research, Pierre Rochard, also expressed concerns about Garlinghouse’s relationship with the new administration.
The development comes as the industry keenly watches how Trump will implement crypto-friendly policies as promised during the presidential election campaigns.
In addition to making America the world’s crypto “capital,” Trump vowed to create a strategic Bitcoin reserve in the U.S. Treasury and offer broader support to the BTC mining industry and decentralized finance (DeFi).
Trump also promised to fire the Securities and Exchange Commission’s chair, Gary Gensler.
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