Donald Trump’s US election win boosted the crypto industry, resulting in huge financial gains for Coinbase, Ripple Labs CEOs.
Ripple Labs, Coinbase CEOs Make Gains
The centralized crypto exchange platform, Coinbase experienced an increase in its market value, which reached up to $21 billion. The company’s CEO, Brian Armstrong holds a significant percentage of Coinbase, which rose up to $6.4 Billion.
Coinbase supported the US election and made a contribution of $74 Million, whereas Ripple contributed $73 Million. Out of $73 Million, Ripple has donated a minimum of $45 Million to the Fairshake pro-crypto political action committee.
Ripple’s CEO, Garlinghouse has a stake of over 6% in Ripple and a considerable portion of XRP. The CEO’s stake value has increased by 3x after the US election. According to the sources, Garlinghouse stated that even though Trump’s term hasn’t officially begun, the crypto market size rose to over $1 trillion.
Brad Garlinghouse Anticipates a Pro-Crypto Nation-state
In October 2024, Brad Garlinghouse had a conversation with CNBC at the 8th Annual Washington DC Fintech Week. Garlinghouse shared that he is optimistic about having a pro-crypto, and pro-innovation Congress in the United States.
In another interview, Garlinghouse said that the US Election result has been a major victory for the crypto industry. The Ripple’s CEO supported the Political Action Committee (PAC), Fairshake and they won a majority of seats.
Additionally, Garlinghouse said that it’s a blatant truth that Donald Trump embraces crypto and crypto embraces him.
Brian Armstrong Credited With Steering Coinbase To The Forefront
On December 25, industry expert Anthony Pompliano posted an post on X about how Coinbase is being widely adopted despite strict regulations. To which Armstrong responded,
“It’s true – innovating is hard enough on its own, but doing it while under attack is even harder. Crypto entrepreneurs who made it through this period will be unstoppable. True grit.”
The Securities and Exchange Commission sued Coinbase in 2023 with a claim that the exchange platform sells unregistered securities. The centralized exchange platform fought back legally. Additionally, it mentioned that it is interested in working with regulators in order to introduce a standard set of laws for the crypto industry.
Post the US elections, Coinbase experienced a 31% surge in its shares. The company celebrated the achievement of getting pro-crypto candidates into the government. 46 out of 58 candidates reportedly won their seats in the US elections.
Furthermore, he also posted a lengthy follow-up post on Twitter stating ,“…no matter how you slice it, this election was huge win for crypto.”
