Ripple CEO Brad Garlinghouse revealed that the cryptocurrency-focused super PAC, Fairshake, was created in direct response to the SEC’s aggressive stance under Gary Gensler. Ripple donated $45 million to the PAC, which significantly influenced the 2024 election cycle.
XRP, the cryptocurrency associated with Ripple, has experienced a significant surge in price, fueled by increasing whale accumulation and growing optimism among traders. Veteran trader DonAlt sees XRP in a breakout phase and predicts a return of 2017-era traders to the market. Other analysts like Mikybull Crypto anticipate even greater gains for XRP, potentially reaching new all-time highs by 2025. This rally coincides with a surge in whale holdings, suggesting a strong underlying support for the token.
Ripple Labs CEO Brad Garlinghouse outlined a cryptocurrency-focused agenda for President-elect Donald Trump, proposing key changes at the SEC and seeking clarity on Ethereum’s status. Garlinghouse advocated for the removal of current SEC head Gary Gensler and suggested potential replacements, emphasizing the importance of promoting a pro-cryptocurrency environment.
Ripple CEO Brad Garlinghouse highlights the need for bipartisan support for pro-cryptocurrency policies, even as the company’s co-founder, Chris Larsen, makes significant donations to Kamala Harris’ campaign. The cryptocurrency industry’s growing influence in the 2024 US election is evident through substantial contributions from crypto-linked PACs to both Republican and Democratic candidates.
Ripple co-founder Chris Larsen has made a significant financial contribution to Kamala Harris’ presidential campaign, donating nearly $10 million to support her run for the White House. This donation comes just weeks before the election and highlights the growing influence of cryptocurrency leaders in US politics.
Ripple has launched its US dollar-pegged stablecoin, RLUSD, aimed at enterprise applications. This move comes as Donald Trump’s World Liberty initiative advocates for stablecoins over Bitcoin. RLUSD offers financial institutions a compliant and reliable digital asset for cross-border payments, leveraging Ripple’s recent legal victory.
Ripple, the blockchain-based payment network, has received in-principle approval from the Dubai Financial Services Authority (DFSA) to offer its services from the Dubai International Financial Centre (DIFC). This move allows Ripple to introduce its cross-border payment solutions, including Ripple Payments Direct (RPD), to customers in the UAE, reflecting Dubai’s growing interest in blockchain technology and its ambition to become a global fintech hub.
In the wake of the SEC lawsuit filed against Ripple in 2021, the company has shifted to using the USDT stablecoin as its bridge currency for On-Demand Liquidity (ODL) transactions. This move, highlighted by blockchain analyst Crypto Eri, aligns with Ripple’s commitment to adhering to regulatory standards.
Ripple has filed a motion to strike new expert testimony submitted by the SEC in its motion for remedies and entry of final judgment. Ripple’s legal team has accused the SEC of “sandbagging,” a practice prohibited by federal rules. The court is urged by Ripple to strike the Fox Declaration along with any mentions of it in the SEC’s remedies motion.
In a recent legal battle, Ripple has filed a motion to strike expert materials submitted by the U.S. Securities and Exchange Commission (SEC). This move challenges the SEC’s procedural violations and alleged practice of “sandbagging,” a prohibited practice under Federal Rule of Civil Procedure. Ripple has also urged the court to disregard the Fox Declaration and any references to it in the SEC’s motion for remedies.
