Ripple CEO Brad Garlinghouse said the crypto industry cannot afford another “Gary Gensler moment,” criticizing what he described as a “war on crypto” under the Biden administration.
Ripple Remains Strong
In a March 27 interview with FOX Business, Garlinghouse said crypto markets faced headwinds over the past year and entered 2026 on a flat note as U.S. regulatory direction remains uncertain. He said clearer and more consistent rules are needed and pointed to recent regulatory progress as a positive step.
Garlinghouse said Ripple is continuing to grow despite market volatility, driven by acquisitions and expansion into areas such as treasury management and prime brokerage.
He said these efforts are outperforming expectations, with rising revenue and strong demand from corporate clients. Ripple also reported a record first quarter, positioning itself as the largest non-bank prime brokerage business.
He criticized the previous actions of the Biden administration and the U.S. SEC, accusing them of “lawfare” against the industry. He added that recent developments, including a joint announcement by the SEC and the Commodity Futures Trading Commission acknowledging 16 digital assets as commodities, mark a significant step forward.
“ChatGPT Moment For Crypto”
Garlinghouse expressed optimism about the proposed CLARITY Act, which he said could be signed as soon as May and would enable greater participation from U.S. banks in the crypto sector. He also highlighted growing institutional interest in cryptocurrencies and stablecoins for faster and more efficient payments, calling them central to what he described as a “ChatGPT moment for crypto.”
Overall, he said upcoming legislation and increasing institutional adoption could help integrate crypto further into traditional finance, while supporting Ripple’s strategy to build infrastructure for what he called the “internet of value.”
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