During the 8th Annual Washington DC Fintech Week, Ripple CEO Brad Garlinghouse expressed his optimism about the future of crypto regulations, regardless of the outcome of the upcoming US elections. He emphasized the need for a “reset” in the crypto space and highlighted the differing attitudes of former President Donald Trump and Vice President Kamala Harris towards cryptocurrencies.
Garlinghouse believes that a new administration, regardless of political affiliation, could lead to more favorable regulatory frameworks for the crypto industry. He stated that no matter what, the United States will end up in a better place when looking back on this period in relation to crypto.
To illustrate the challenges faced by individuals in the crypto industry, Garlinghouse shared his personal experience of being “de-banked” by Citibank due to his involvement in crypto. This sudden closure of his 25-year banking relationship forced him to transfer his funds within a short period of time.
During the event, Garlinghouse also predicted the inevitable approval of a spot XRP ETF in the US market. He pointed out the growing demand for crypto ETFs, citing the success of spot Bitcoin ETFs that launched earlier this year. Garlinghouse believes that the increasing institutional interest in the crypto industry will drive up the prices of various cryptocurrencies, including XRP.
Overall, Garlinghouse remains hopeful for the future of crypto and expects positive developments in regulations and investment products like ETFs.