Ripple’s CEO Brad Garlinghouse, Chief Legal Officer Stuart Alderoty, and ex-President Donald Trump had a dinner meeting at the Mar-a-Lago Resort of Trump on Jan. 7.
According to the tweets posted by Garlinghouse on Jan. 8, saying it was a “great start to 2025” for the Ripple leaders. Alderoty also put a fun touch on the dinner, pointing out the beef bourguignon on the menu. This meeting brings some critically important developments for Ripple as it steps towards 2025 due to changes currently going on within the crypto ecosystem and regulatory landscape.
The dinner marks Ripple’s favorable position after winning a case against the SEC that had accused it of selling unregistered securities through its native token XRP (XRP). Winning against the SEC represents a significant improvement to Ripple’s reputation in the crypto industry. This ruling has made it clear that technically speaking, XRP is not a security, setting a precedent for how regulators view a number of digital assets.
Lawyer John E. Deaton remarks upon the industry’s persistence during the court proceedings and makes note of Ripple’s candor with XRP, even against the SEC’s expected further attempt to appeal. Deaton takes further issue with the “controversial” discovery practices of the SEC, writing them off as excessive. He also noted that while the legal win is defending the company’s position, the judgment also signals wider benefits for the cryptocurrency sector. For instance, when speaking of XRP, the token overtook Ethereum (ETH) as the second most preferred token in South Korea.
Ripple making ripples
With 75% of its new hires based out of the US, CEO Garlinghouse stated that the company had recently shifted its efforts towards growth within the country. After focusing on international growth for years, this pivot puts the spotlight back on the American market. Furthermore, Garlinghouse said that during the last six weeks of 2024, the company signed more contracts with US-based companies than it had done in all the previous six months combined.
For now, the meeting at Mar-a-Lago marks the impactful engagement between pro-crypto leaders and policymakers. U.S. Senator Cynthia Lummis, celebrated for her pro-crypto advocacy, recently held talks with Paul Atkins, reportedly a leading candidate for SEC chairman during Trump’s administration, primarily to reform the SEC’s regulatory framework and create a friendlier environment for blockchain innovation.
