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Ripple CEO Brad Garlinghouse reacts to a viral video of the world’s richest man, Elon Musk, mentioning XRP for the first time.
In a startling development, Elon Musk, the CEO of SpaceX and Tesla, mentioned XRP for the first time during a recent town hall discussion in Pittsburgh.
Musk Mentions XRP
The Crypto Basic reported yesterday that an attendee asked the world’s richest man whether he envisions the XRP Ledger (XRPL), the underlying blockchain of XRP, incorporated into financial institutions, especially given the SEC’s aggressive stance toward the digital asset.
Responding, the tech mogul commented on crypto assets in general rather than addressing the specific XRP question. Notably, he praised cryptocurrencies for serving as a defense against centralized control.
He quickly added that his comment does not represent an endorsement or lack of support for XRP, the seventh-biggest cryptocurrency by market cap. Despite not endorsing XRP, Musk’s comment triggered excitement among proponents of the cryptocurrency.
Ripple CEO Reacts
The video has gone viral within the XRP community, prompting a reaction from Ripple’s CEO, Brad Garlinghouse. In his remark, Garlinghouse reiterated that United States voters care about crypto, particularly XRP. According to him, voters are interested in favorable policies that promote innovation and job creation in the country.
The Ripple CEO contended that political candidates who ignore the importance of crypto and blockchain risk losing support from an informed and growing voter base.
Importance of Next Month’s Election
The importance of next month’s presidential election cannot be overstated. Crypto investors and stakeholders believe there is a need to support a pro-crypto political candidate who will advocate for favorable regulations for the industry.
The current administration has displayed aggressive behavior toward crypto. Consequently, crypto enthusiasts believe voting for Kamala Harris, the vice president of the current administration, will only prolong the crypto asset industry’s present hurdles.
Moreover, Harris has not clearly revealed how her administration would provide clear regulation for the industry.
On the contrary, her opponent, Donald Trump, has consistently voiced support for crypto. During his keynote at the Bitcoin Conference 2024, Trump said he would sack SEC Chair Gary Gensler on his first day in office.
In addition, he promised to support pro-crypto policies. Trump has gained the backing of top crypto stakeholders, like Gemini founders Tyler and Cameron Winklevoss, who donated $1 million worth of Bitcoin (BTC) each to his campaign.
Even though Harris has been economical with her intentions for the industry, she has also attracted the endorsement of top crypto executives, such as Ripple co-founder Chris Larsen and Uphold co-founder J.P. Theriot.
Yesterday, Larsen announced that he donated $10 million in XRP in support of Harris, whom he believes would make American technology maintain global dominance.