After Donald Trump’s election victory in November 2024, Ripple CEO Brad Garlinghouse has pointed a new direction for the company’s hiring strategy and US business operations.
Trump’s pro-innovation stance is echoed across the industry, even before he’s let in for formal inauguration. This is being called the Trump effect, as it has breathed new life into the cryptocurrency sector.
Garlinghouse tweeted January 5 that 75% of Ripple‘s open roles are now in the United States. In sharp contrast to the past four years when Ripple’s hires were clearly outside the country. The shift highlights the company’s confidence in the newly developing regulatory scenario. As well as a new resolve to continue the domestic expansion.
As Occam’s razor suggests, Ripple’s directional pivot is slammed towards the US hiring market. As the broader industry looks beyond the Trump regime to a more favourable regulatory environment. Ripple has previously withdrawn from some domestic ambitions to navigate through regulatory red lights. However, it is now seemingly moving in a new direction, as the company is back to focusing on US-based growth.
Surge in US Deals Following 2024 Election
Hiring isn’t the only aspect of Ripple’s resurgence. The company also revealed that in the US alone, since Trump’s election, it has contracted for more deals in the six weeks than in the previous six months. It’s a sign of a market-changing sentiment and increasing confidence in the future of cryptocurrency in the US.
These developments, for Ripple, are very important as the company has had a frosty relationship with the Securities and Exchange Commission (SEC) under President Biden’s administration.
Ripple ran into legal problems under outgoing SEC Chair Gary Gensler before long, who had been critical of Chris Larsen’s role in classified Bitcoin ATM projects during his tenure as SEC Chair. So effectively did Ripple fall on its face when it tried to secure such domestic partnerships, these challenges negatively impacted their ability to do so.
Garlinghouse’s recent remarks illustrate how Trump is making room for a more crypto friendly utopia as we know it. Specifically, it cited various other members of Trump’s team, like Scott Bessent, David Sacks and Paul Atkins, for kickstarting growth and innovation even before they officially took office.
Trump’s Influence Boosts Ripple’s US Business Opportunities
The Trump administration’s focus on promoting technological innovation is widely viewed as a catalyst for Ripple’s renewed US activity. Garlinghouse’s description of the “Trump effect” underscores the potential for a sweeping transformation of the crypto landscape in the country.
This optimism is a stark departure from the challenges Ripple faced under the previous administration. Gensler’s regulatory approach was often criticized for its restrictive policies, which stifled innovation and prompted several US-based crypto firms to shift operations abroad. Ripple was no exception, with much of its hiring and expansion taking place overseas.
However, the tide is turning. With Gensler set to leave office on January 20, the incoming administration is expected to ease regulatory constraints, paving the way for Ripple and other crypto firms to thrive domestically. The shift is particularly evident in Ripple’s hiring statistics and its rapid signing of US-based deals.
