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With only a short time left until the US elections, the cryptocurrency sector is also closely following the process. If Kamala Harris becomes president, there is a risk that Bitcoin (BTC) and cryptocurrencies will fall, while if Donald Trump becomes president, a major rise is expected.
At this point, Ripple CEO Brad Garlinghouse spoke at the 8th Annual Washington DC Fintech Week. The famous CEO touched on many topics here and argued that there should be a reset for the cryptocurrency industry regardless of the US election results.
Stating that the crypto industry will experience a “reset” no matter which candidate wins, Garlinghouse said he expects better crypto regulations after the US elections and expressed his optimism in this regard.
“While Donald Trump has aggressively promoted the crypto industry, Harris, despite being from Silicon Valley and generally pro-tech, has remained relatively silent on the subject.
But whatever the outcome, I think we're going to see a reset, we're going to see some progress on crypto regulation, and I'm definitely looking forward to that.”
Garlinghouse said Ripple is neutral on the election issue but praised Harris, who announced last week that she would support a crypto regulatory framework if elected, calling her statement “very constructive.”
XRP ETF Is Inevitable!
Ripple CEO Brad Garlinghouse also said that despite his company being at odds with the SEC for years, he is confident that the XRP ETF will be approved.
“In my opinion, an XRP ETF is inevitable. There is a huge demand for access to XRP from institutions and retail investors.”
Garlinghouse said that he sees ETFs as a significant upward catalyst for related cryptocurrencies, including XRP, and that crypto prices have experienced major upward movements thanks to ETFs.
As you may recall, Bitwise and Canary Capital applied for an XRP ETF.
Citigroup Ends Banking Relationship Due to Crypto!
Ripple CEO recently announced that Citigroup has cut off banking ties with him due to his ties to cryptocurrencies.
At this point, Garlinghouse said that Citi had cut off its banking relationship with him due to the US government's pressure on banks regarding digital assets.
He added that Citigroup, which he has been a customer of for 25 years, is not the only bank with which his personal relationship has been terminated due to its important place in the crypto sector.
“They told me, ‘You have five days to move your money.’ They were actually very honest.
“They said to me, 'Look, you're a big shot in crypto, and having big shots in crypto and banking on the crypto industry means more scrutiny from federal regulators.'”
*This is not investment advice.