In a major development for the cryptocurrency industry, Ripple CEO Brad Garlinghouse congratulated venture capitalist David Sacks on his appointment as the newly created White House AI and Crypto Czar under President-elect Donald Trump.
Ripple CEO Hails Sacks as a Game-Changer
In a December 6 post on X (formerly Twitter), Garlinghouse praised Sacks and President Trump’s vision for a pro-innovation agenda in AI and cryptocurrency.
“Huge congrats to @DavidSacks on this appointment – he understands tech inside and out, and importantly, will push forward President Trump’s crypto and AI pro-innovation plan,” Garlinghouse wrote.
President Trump announced Sacks’ appointment on December 5 via Truth Social, emphasizing the need for regulatory clarity to allow the cryptocurrency industry to thrive.
“He will work on a legal framework so the crypto industry has the clarity it has been asking for and can thrive in the U.S.,” Trump stated.
David Sacks: A Visionary for Blockchain Regulation
David Sacks, a Silicon Valley veteran, is known for his expertise in technology, blockchain, and venture capital. In his new role, Sacks is expected to develop a blockchain-friendly regulatory framework that balances innovation with compliance.
The move aligns with Trump’s broader push to position the United States as a global leader in cryptocurrency and AI.
Ripple’s Ongoing Legal Battle with the SEC
Garlinghouse’s congratulatory post comes amidst Ripple Labs’ prolonged legal conflict with the U.S. Securities and Exchange Commission (SEC).
The SEC has accused Ripple of violating federal securities laws, claiming the company’s sale of XRP tokens constitutes an unregistered securities offering.
Critics in the crypto community view the SEC’s regulation-by-enforcement approach as excessive, with Ripple being one of many high-profile targets, including Coinbase and Kraken.
Leadership Changes at the SEC
The announcement of David Sacks’ appointment coincides with the departure of SEC Chair Gary Gensler, who has been widely criticized for his stringent stance on the blockchain sector.
In a farewell statement, Gensler said:
“The Securities and Exchange Commission is a remarkable agency. It has been an honor to serve with them on behalf of everyday Americans.”
Trump has since announced the nomination of Paul Atkins, a crypto-friendly former SEC Commissioner, as Gensler’s successor. Atkins is expected to take a more balanced and innovation-friendly approach to digital assets.
Pro-Crypto Leadership Ushers in a New Era
With Sacks and Atkins taking key roles, industry leaders are optimistic about a regulatory landscape that fosters growth and innovation.
While the exact details of Trump’s pro-crypto policy remain unclear, the appointments signal a shift toward greater clarity and support for blockchain technology in the U.S.
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