CEO Ripple Labs Criticized for Promoting XRP and CBDCs in Alleged Meeting with Trump

Brad Garlinghouse, the CEO of Ripple Labs, found himself in hot water after reports surfaced about a supposed meeting with President-elect Donald Trump. Apparently, Garlinghouse took the opportunity to give XRP and central bank digital currencies (CBDCs) their moment in the spotlight.

Ryan Selkis, former CEO of Messari, didn’t mince words in a post on X, accusing Garlinghouse of “shilling XRP and pushing CBDC implementation.” Ouch.

Joining the critique parade, Pierre Rochard, VP of Research at Riot Platforms, took it up a notch, calling Ripple’s agenda anti-Bitcoin and warning about the dangers of Ripple’s growing influence on U.S. policy-making.

Not one to miss the spotlight himself, Rochard publicly urged Trump to add more Bitcoin supporters to his administration. Because, apparently, when in doubt, bring more Bitcoiners to the table!

(And yes, while meme coins are taking the 2024 market by storm, it seems the real drama is unfolding behind the scenes of the XRP vs. Bitcoin saga.)

We can’t let Ripple co-opt the United States policymaking process with their anti-bitcoin agenda.

Hopefully Trump will staff his Administration with more bitcoiners! https://t.co/TiXxAMRF7h

— Pierre Rochard (@BitcoinPierre) November 16, 2024

Balancing Acts, XRP Spikes, and Ripple’s Role in the Crypto Drama

This rumored meeting is being framed as a pivotal move to ensure balanced policies for digital assets in the future. But here’s where things get juicier: the timing of the alleged meeting coincided with XRP’s double-digit price surge, leading to speculation that the meeting itself might have contributed to the spike. Talk about market movers!

When asked on Fox Business about the meeting, Brad Garlinghouse neither confirmed nor denied its occurrence. Instead, he praised Donald Trump’s understanding of crypto, highlighting Trump’s recognition of the innovation and entrepreneurship potential in the industry. Oh, and let’s not forget—Garlinghouse happily pointed out that Trump’s election win sent positive vibes through the crypto markets.

Garlinghouse didn’t hold back in taking a jab at SEC Chairman Gary Gensler, calling him the main roadblock for U.S.-based crypto projects. Trump’s promise to oust Gensler on day one of his presidency? That’s a rallying cry the crypto community is all too eager to support.

Meanwhile, the drama escalates as 18 U.S. states, including Texas, Ohio, and Wyoming, filed a lawsuit against Gensler. Their gripe? Gensler’s heavy-handed approach to crypto regulation, which they claim oversteps federal authority, infringes on states’ rights, and hampers the industry’s growth.

The SEC’s “regulation by enforcement” strategy has come under fire from all sides, with critics arguing it lacks clear guidelines for the industry and leans too heavily on legal crackdowns.

In a surprise twist, a coalition of seven U.S. states is now teaming up to push back against the SEC’s crypto policies. If this saga sounds like a Netflix series waiting to happen, you’re not alone. Stay tuned—the crypto drama isn’t over yet!

Robinhood Brings XRP Back to the Party

Robinhood Crypto has reintroduced three major altcoins, including XRP, to its trading platform in the United States. This move signals renewed confidence in XRP, which had previously been delisted from numerous platforms.

Back in 2020, Robinhood and others booted XRP off their trading lists following a lawsuit from the SEC accusing Ripple of offering unregistered securities. The crypto drama continued into June 2023 when Robinhood also dropped SOL, ADA, and Polygon (MATIC) after the SEC labeled them unregistered securities during its lawsuits against Binance and Coinbase.

Now, XRP’s return to Robinhood hints at a brighter, more regulated future for the token. Johann Kerbrat, Robinhood Crypto’s VP and General Manager, said the decision was driven by customer demand.

He added that expanding access to crypto provides opportunities for communities historically left out of traditional financial systems.

It seems the tides are turning for XRP—Robinhood’s move could be the olive branch XRP needs to rebuild its reputation. Stay tuned as the crypto world watches what’s next for this once-embattled altcoin!

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Roman Blecha

I have 6 years of writing experience on several leading websites dealing with cryptocurrencies and other investments. I have been in the Web3 sector for a similar amount of time and have collaborated on several projects from NFT to P2E.