Ripple CEO Brad Garlinghouse Hails ‘Big Deal’ For US Crypto Market

Ripple CEO Brad Garlinghouse has thrown his weight behind the latest developments in the US crypto space, calling them a “big deal.” His comments follow a press conference by US Crypto Czar David Sacks, which sparked debates over the country’s approach to Bitcoin reserves and broader digital asset policies. While uncertainty lingers over a potential Bitcoin Strategic Reserve, Garlinghouse sees the legislative push for crypto clarity as a breakthrough moment for the US.

Ripple CEO Brad Garlinghouse Lauds Legislative Support For Crypto

Ripple CEO Brad Garlinghouse dismissed criticism of the recent policy discussions from US crypto czar David Sacks, emphasizing their long-term significance. He pointed out that the involvement of major financial committee leaders marks a pivotal shift in Washington’s stance on crypto regulation.

In a recent X post, the Ripple CEO stated:

“Any criticism of today’s press conference is absolutely missing the forest for the trees. Having the Chair of Senate Banking, the Chair of House Financial Services, the Chair of Senate Ag, and the Chair of House Ag join the Crypto Czar to commit to passing legislation for crypto clarity is 100% a big deal (and something we haven’t seen before).”

Sacks acknowledged Ripple CEO’s support, further fueling speculation about Ripple’s potential role in upcoming regulatory frameworks. Notably, this comes amid recent market rumors suggesting that XRP could be considered for a national reserve list, though no official confirmation has been given.

Why David Sacks’ Remark Receives Criticism?

David Sacks, head of the US digital assets working group, recently addressed the Senate Banking Committee alongside key lawmakers. Sacks revealed that the administration is evaluating the possibility of a Bitcoin Strategic Reserve, following President Donald Trump’s directive.

While the market initially saw this as a positive step, concerns arose when Sacks mentioned “digital assets” more frequently than Bitcoin itself. This fueled speculation that the US government might be shifting focus from a Bitcoin-centric reserve to a broader digital asset framework.

Stablecoin In Focus

Sacks also highlighted the role of stablecoins in strengthening the US dollar’s global position. He argued that stablecoins could drive digital dollar adoption and create significant demand for US treasuries, potentially lowering long-term interest rates.

This comment might also have caught the Brad Garlinghouse’s attention. Notably, Sacks’ remarks align with Senator Bill Hagerty’s recent introduction of the Guiding and Establishing National Innovation for US Stablecoins (GENIUS) Act.

Brad Garlinghouse Remains Bullish On US Crypto Advancements

The comment from the Ripple CEO has given some relief to the investors. It appears that Brad Garlinghouse is looking at the broader crypto regulatory trend and clarity in the US rather than focusing on a specific area.

With growing momentum in legislative discussions, the US crypto market is entering a crucial phase. While the feasibility of a Bitcoin reserve remains uncertain, broader regulatory clarity is gaining bipartisan support. As lawmakers refine stablecoin policies and digital asset frameworks, industry leaders like the Ripple CEO see this as a defining moment for crypto’s future in the US.

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Rupam Roy

Rupam is a seasoned professional with three years of experience in the financial market, where he has developed a reputation as a meticulous research analyst and insightful journalist. He thrives on exploring the dynamic nuances of the financial landscape. Currently serving as a sub-editor at Coingape, Rupam's expertise extends beyond conventional boundaries. His role involves breaking stories, analyzing AI-related developments, providing real-time updates on the crypto market, and presenting insightful economic news. Rupam's career is characterized by a deep passion for unraveling the complexities of finance and delivering impactful stories that resonate with a diverse audience.