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Donald Trump Seeks Votes From Crypto Lovers, Extends Full Support

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11 months ago

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Donald Trump, the Republican candidate for the U.S. Presidential Elections in 2024 has come out openly endorsing cryptocurrencies adding that he would protect the rights of crypto investors. In his campaign speech, the Trump administration stated that the Biden administration has no idea of how cryptocurrencies function and so they have been cracking the whip on digital assets.

Joe Biden vs. Donald Trump – The Crypto Battlefield

In his latest presidential campaign speech, the Republican candidate stated: “If you like crypto in any form…and it comes in many forms…if you’re in favor of crypto, you better vote Trump.”

Presidential candidate Donald Trump has been very clear that he would not crack down on Bitcoin and other digital assets by using regulatory power. “I have seen there has been a lot of use of that. “And I’m not sure that I’d want to take it away at this point,” he said during an interview with CNBC last month.

However, Donald Trump’s views on Bitcoin were not the same back in 2021 when he termed Bitcoin as a “scam” and something that threatens USD’s status as the world’s reserve currency. But he still talks about protecting the Dollar. “I want one currency, I want the dollar, I don’t want people leaving the dollar,” he continued.

However, over the last few years, Donald Trump has dabbled into the world of digital assets by launching his self-branded NFTs in the market. “People were going crazy for these things [NFTs], and so many of these were bought with this new cryptocurrency and I couldn’t believe the amount,” he said.

Democrats vs Republicans

Fox News Journalist Eleanor Terret mentioned that the debate over cryptocurrency took center stage as the two leading presidential contenders staked out contrasting positions.

President Joe Biden aligned himself with Senator Warren and SEC chair Gary Gensler, expressing unwavering support for the SEC’s regulatory approach, and emphasizing regulation by enforcement.

Meanwhile, Donald Trump has taken a different stance, vowing to end the adversarial stance towards crypto in the United States. He further pledged to actively embrace cryptocurrency by accepting campaign donations in digital assets.

In an interesting development, some Democrats also joined the Republicans to pass a resolution that nullifies SAB 121. However, the Biden administration has opposed this bill.

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The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Regulation

Ripple Drops Its Cross Appeal Against The US SEC

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18 hours ago

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March 25, 2025

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Ripple has dropped its cross-appeal against the US Securities and Exchange Commission (SEC) following the latter’s decision to drop its case against the crypto firm last week. The firm’s Chief Legal Officer (CLO), Stuart Alderoty, also revealed what will happen with the $125 million penalty the Court awarded against them.

Ripple Drops Cross Appeal Against The US SEC

In an X post, Ripple’s CLO, Stuart Alderoty, revealed that his firm has now agreed to drop its cross-appeal against the US SEC after the Commission decided to drop the appeal without conditions.

This development officially ends the long-running legal battle between the crypto firm and the SEC, as the latter has also agreed to drop the Ripple lawsuit in its entirety.

Alderoty also revealed what will happen to the monetary judgment, which Judge Analisa Torres awarded against the crypto firm. He stated that the Commission will keep $50 million of the $125 million fine, which is already in an interest-bearing escrow in cash, while Ripple will collect the balance of $75 million.

Meanwhile, the US SEC will ask the Court to lift the standard injunction it imposed against the crypto firm at the Commission’s request. This move is subject to the Commission vote, the drafting of final documents, and routine court processes.

Significance Of This Development

Besides ending the Ripple lawsuit, the SEC’s agreement to request that the Court drop the standard injunction against the crypto firm paves the way for a surge in XRP’s adoption since the company can now proceed to carry on its on-demand liquidity (ODL) sales as usual.

Legal experts had predicted that Ripple was holding out on settlement to get the Commission to lower the fine and request the Court to drop the injunction. As such, these developments undoubtedly represent a massive victory for the firm.

CEO Brad Garlinghouse recently discussed the company’s future. He predicted that their US operations would grow in the coming months following the end of the lawsuit and thanks to imminent crypto legislation.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Brad Garlinghouse Discusses Ripple’s Future, Crypto Legislation & Blockchain Technology As Lawsuit Ends

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2 days ago

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March 24, 2025

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Ripple CEO Brad Garlinghouse recently discussed what is next for his firm and how crypto legislation could also positively impact the crypto industry’s trajectory and the future of blockchain technology. This comes just days after the US SEC agreed to drop the long-running Ripple lawsuit.

Ripple CEO Brad Garlinghouse Reveals What As SEC Drops Lawsuit

In a FOX Business interview, Brad Garlinghouse discussed what next for his firm following the SEC’s decision to drop the Ripple lawsuit. He noted that about 95% of the company’s customers are overseas, as the lawsuit hindered their US operations.

However, he suggested that will likely change moving forward as they grow their operations in the country. Garlinghouse remarked that they have already been witnessing domestic interest since US President Donald Trump took office. The Ripple CEO revealed they have signed more deals since then than in the six months preceding Trump’s inauguration.

The company is expected to grow further in the US after the SEC agreed to drop the Ripple lawsuit. Brad Garlinghouse predicts that his firm’s innovative technology will play out over the next ten to twenty years in terms of how it integrates and rewires the US financial structure in terms of payments, real estate, and securities transactions.

The Ripple CEO again took time to highlight how Trump’s crypto-related executive orders, especially the creation of the Strategic Bitcoin Reserve and Digital Asset Stockpile, have created a more friendly environment for crypto firms in the US.

He noted that financial institutions are now more open to crypto technology. As CoinGape reported, the OCC has cleared Federal Banks to engage in crypto activities.

On Stablecoin Legislation & Its Impact

Brad Garlinghouse commended the efforts of legislators like Senator Cynthia Lummis and Rep French Hill to provide regulatory clarity. These lawmakers are championing the market structure and stablecoin bills to create a regulatory framework that will guide crypto firms. Senator Lummis also recently reintroduced the Bitcoin Act to codify Trump’s vision of a Strategic Bitcoin Reserve.

The Ripple CEO welcomed the idea of regulatory clarity, stating that it would reassure customers that they can engage with them in good faith. He remarked that these customers would feel more comfortable using their technologies without fear of regulators attacking them. Garlinghouse added that this would also enable more job creation, innovation, and capital formation in the US.

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Boluwatife Adeyemi

Boluwatife Adeyemi is a well-experienced crypto news writer and editor who has covered topics that cut across several topics and niches. Boluwatife has a knack for simplifying the most technical concepts and making it easy for crypto newbies to understand. Away from writing, He is an avid basketball lover, a traveler and a part-time degen.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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US SEC To Shift Attention From Crypto Enforcement To Traditional Cases: Details

Published

2 days ago

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March 24, 2025

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A change of guard at the US Securities and Exchange Commission (SEC) is powering a shift away from cryptocurrency enforcement. Under new leadership, the US SEC is narrowing its focus on traditional securities cases driven by a handful of factors.

US SEC Turns Its Gaze Away From Crypto Enforcement

According to a Reuters report, the US SEC is bringing down the curtain on its five-year rampage against the cryptocurrency industry. Going forward, the Commission will focus its resources on traditional cases involving corporate and individual securities fraud.

The SEC’s interim Enforcement Director Sam Waldon revealed that the Commission will give priority to individual cases. During the Gary Gensler administration, the SEC directed the bulk of its resources toward crypto enforcement against industry giants.

With Gensler out of the picture and new brass coming on board, the SEC is changing its stance. Paul Atkins is set to face a nomination hearing at Capitol Hill this week, signaling a breath of fresh air for the Commission.

For starters, a string of case dismissals against cryptocurrency companies, particularly the Ripple SEC case, accentuates a change in strategy. Furthermore, declarations that memecoins are not securities and exempting Proof-of-Work mining from securities obligations underscores the point.

Securities Watchdog Does Not Have The Numbers To Sustain Crypto Enforcement

Apart from new leadership, a key factor in the Commission’s changing stance lies in its dwindling staff strength. The SEC is recovering from a gale of exodus following plans by President Donald Trump and Elon Musk to reduce the government’s workforce.

“Creativity is probably not where we want to be,” said Waldon, hinting at a steep drop in employee numbers.

A restructuring of the defunct Crypto Assets and Cyber Unit and the launch of a Crypto Task Force signals a change in direction. The Crypto Task Force is pursuing roundtables with ecosystem players rather than regulation by enforcement that characterized the SEC.

The SEC has to respond to a FOIA request filed by Coinbase seeking clarity over the financial implications of its five-year enforcement over the cryptocurrency industry.

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Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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