- Ripple CEO sees Gensler’s January 20, 2025, resignation as a turning point for XRP and crypto regulation.
- Gensler’s exit on Trump’s Inauguration Day sparks hope in Ripple’s SEC case.
- Ripple CLO highlights optimism for ending the SEC’s legal actions.
Ripple CEO Brad Garlinghouse sees a turning point for the crypto industry as SEC Chair Gary Gensler announces his resignation, effective January 20, 2025, the day of President-elect Donald Trump’s inauguration. Gensler shared the news in a post on X, sparking reactions from within the crypto community.
In his announcement, Gensler expressed gratitude to the SEC staff for their dedication to investor protection. Describing his tenure as an honor, he emphasized the importance of their mission-driven work.
Brad Garlinghouse responded to Gensler’s post with a Thanksgiving-themed message, highlighting his optimism about the leadership change. The Ripple CEO’s response mirrors a broader sentiment within the crypto community, which has long criticized the SEC’s regulatory stance under Gensler.
Ripple’s Chief Legal Officer, Stuart Alderoty, also weighed in, posting “and scene…,” a theatrical phrase that many interpret as signaling the end of a contentious chapter for Ripple and the crypto industry.
Ripple’s Legal Battle With Now Hope for Change
Gensler’s resignation comes as Ripple remains embroiled in a lawsuit with the SEC, which has accused the company of conducting a $1.3 billion unregistered securities offering. While the lawsuit saw a major development earlier this year—when Judge Analisa Torres ruled XRP was not a security in secondary market sales—the case remains unresolved.
Read also: Ripple CLO: Only Specific Tokens Should Be “Securities”
The Ripple community believes that new SEC leadership could bring a more balanced approach to cryptocurrency regulation, potentially benefiting Ripple in its legal battle. Garlinghouse’s optimism reflects hope that a new Chair might foster an environment conducive to innovation rather than enforcement.
For Ripple and its supporters, Gensler’s departure can be seen as a potential turning point for Ripple and the crypto industry. And for Ripple, this would mean a resolution to its long-standing legal battle, offering a fresh start for XRP and its investors.
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