Ripple (CRYPTO: XRP) CEO Brad Garlinghouse celebrated on Thursday the defeat of the so-called “Anti-Crypto Army,” a group he accused of opposing innovation and protecting a “broken” financial system.
Garlinghouse Praises Trump
Garlinghouse borrowed the term from President Donald Trump, who earlier in the week stated that the "Anti-Crypto Army" was attempting to destroy the cryptocurrency industry by driving Bitcoin (CRYPTO: BTC), perpetuals, and other innovations out of the U.S.
“Combatting financial innovation only helped protect those that wanted to keep an old, often broken, system in place,” Garlinghouse said. “It never made policy, legal or political sense.”
He added that the "Anti-Crypto Army" was defeated by court rulings, voters and Trump.
Ripple’s Problems With The Biden Administration
Garlinghouse fiercely criticized the previous administration and former SEC Chair Gary Gensler for making it difficult for cryptocurrency companies in the U.S.
Ripple was locked in a nearly five-year-long legal battle with the SEC over the status of XRP, a cryptocurrency at the center of the company's operations.
Garlinghouse said previously that the establishment of Fairshake, a cryptocurrency-focused super PAC, was a direct response to Gensler's stifling actions against the industry. Ripple was one of the biggest donors to the PAC.
Have Things Changed?
Trump claimed credit for "saving" the industry and turning America into the "cryptocurrency capital of the world."
Trump has a genuine pro-crypto policy record, highlighted by the GENIUS Act, the Strategic Bitcoin Reserve, and his strong push for the CLARITY Act.
However, policy wins have repeatedly failed to translate into sustained price recovery. Bitcoin hit $126,000 last year, but has since dropped to around $73,000—down roughly 42%.
Moreover, ventures linked to him and his family, including the Official Trump (CRYPTO: TRUMP) and the World Liberty Financial platform, have raised conflict-of-interest concerns.
Price Action: At the time of writing, XRP was exchanging hands at $1.31, up 1.84% in the last 24 hours, according to data from Benzinga Pro.
Photo courtesy: Shutterstock
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