- 75% of Ripple’s roles are now US-based compared to the last four years
- The “Trump effect” is already making crypto great again, said Garlinghouse
Ripple CEO Brad Garlinghouse said Ripple Labs signed more US deals in the last six weeks of 2024 compared to the previous six months before the US election.
In a post on X, Garlinghouse pointed to Donald Trump’s incoming administration to the White House as the factor creating a positive effect on the company.
“2025 is here and the Trump bull market is real,” Garlinghouse wrote. “We signed more US deals in the last six weeks of 2024 (since the election) than the previous six months,” adding that “75% of Ripple’s open roles are now US-based, while over the last four years, the vast majority of hires were outside the US.”
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
“Team Trump is already jumpstarting innovation and job growth in the US with Scott Bessent, David Sacks, Paul Atkins and others at the helm, and they aren’t even in office yet,” Garlinghouse said. “Say what you want, but the “Trump effect” is already making crypto great again.”
Since Trump’s win, XRP has risen more than 300%, according to data from CoinMarketCap. At the time of publishing, XRP is trading at around $2.40, up 1.92% in the last 24 hours.
Ripple vs. the SEC
For Garlinghouse, the Trump effect on the crypto market is personal after Gary Gensler’s US Securities and Exchange Commission (SEC) prevented business opportunities for Ripple in America.
In 2020, the SEC sued Ripple, Christian Larsen, the company’s co-founder and former CEO, and Garlinghouse, after alleging that they raised $1.3 billion through the sale of XRP, an unregistered securities offering, according to the regulator.
However, in 2023, Judge Analisa Torres found that XRP wasn’t a security when it came to sales to the public, its employees, and developers, marking a huge win against the SEC. Yet, direct sales to institutional investors, Torres found that these sales were securities. As a result, Ripple was ordered to pay $125 million for violating securities laws.
In October, Ripple filed a notice of cross-appeal against the SEC challenging the judgement made to pay the fine.