– Ripple’s Chris Larsen joins 88 business leaders in supporting Kamala Harris.
– Ripple is one of the few crypto firms backing Harris over Trump.
– Ripple CEO says Gary Gensler won’t remain SEC Chairman post-election.
– Ripple’s unique political stance signals a major shift in crypto industry politics.
Ripple’s Political Gamble: Backing Harris Over Trump
Ripple co-founder Chris Larsen and a group of 88 business leaders have publicly endorsed U.S. Vice President Kamala Harris in her 2024 presidential bid. In a letter signed by this group of influential business figures, Harris has been positioned as the right candidate to lead the country. This endorsement stands out, particularly in the cryptocurrency industry, where many firms have expressed a preference for Donald Trump, believing his policies would favor a less regulated crypto market.
Ripple’s decision to support Harris over Trump could have significant implications for the industry. While Trump is seen as more likely to ease regulations on crypto, Harris’ camp offers a different vision, one that aligns more with environmental and ethical standards – a core part of Ripple’s corporate identity.
Ripple’s backing of Harris might be a signal to other companies in the crypto industry to consider the broader implications of political support beyond just market regulations. As one of the few crypto firms taking this stance, Ripple is sending a clear message: they’re not just about business – they’re about values, too.
Ripple CEO’s Bold Prediction on SEC Leadership
Ripple CEO Brad Garlinghouse has added another layer to the conversation by making a bold prediction about the future of SEC leadership. Garlinghouse stated that no matter who wins the 2024 presidential election, Gary Gensler, the current SEC Chairman, will not continue in his role. This prediction reflects the tensions between the crypto industry and the SEC, particularly over the regulatory scrutiny crypto companies have faced under Gensler’s leadership.
This speculation from Ripple’s top executive suggests that the company is preparing for a major shift in the regulatory landscape post-election. Whether Harris or Trump wins, Garlinghouse seems confident that Gensler’s exit is inevitable. Ripple’s legal battle with the SEC has been a long and public one, making this prediction even more intriguing.
By supporting Harris and anticipating changes at the SEC, Ripple is positioning itself strategically for the future. While much of the crypto industry remains focused on short-term regulatory relief, Ripple is thinking several moves ahead, considering both the political and regulatory landscapes.
Ripple’s Calculated Risk
Ripple’s endorsement of Kamala Harris and its anticipation of changes at the SEC show that the company isn’t afraid to take risks. By aligning with Harris, Ripple is betting on a future where ethical leadership and environmental responsibility take precedence. This contrasts sharply with much of the crypto industry’s support for Trump, which is often driven by hopes of lighter regulation.
Ripple’s moves could inspire other companies to rethink their political strategies. In an industry often focused solely on deregulation, Ripple’s approach is refreshingly multifaceted. Whether or not this gamble pays off remains to be seen, but it certainly sets Ripple apart as a leader willing to make bold choices.
