Trump Shakes Crypto Industry: Ripple and Cardano Leaders Now Guide SEC Policy

Washington's crypto power dynamics just flipped upside down.

Trump's administration reshapes regulatory landscape—Ripple's Brad Garlinghouse and Cardano's Charles Hoskinson now hold unprecedented influence over SEC policy direction.

Industry insiders whisper about backchannel negotiations and closed-door meetings that bypass traditional regulatory pathways.

The same regulators who pursued enforcement actions now seek guidance from those they targeted.

Washington's revolving door spins faster than blockchain confirmation times—because nothing says 'financial innovation' like former adversaries writing the rules they'll eventually exploit.

SEC’s New Approach with Ripple and Cardano (ADA)

January 20th of this year marks an unforgettable event for crypto investors. After Gensler’s resignation, the SEC ceased all crypto-focused litigation that did not involve fraud and began issuing guidelines for the industry. They even declared that meme coins are not considered securities. Ripple$0.00744, after enduring a lengthy battle with the SEC, is free from a five-year-long lawsuit. Similarly, major companies like Binance, Coinbase, and Kraken have found newfound freedom, largely thanks to Trump’s influence.

Gensler’s strategy had involved using antiquated laws to classify cryptocurrencies as securities and then suing crypto companies. This left companies trying to operate legally without any guidance or path to registration. Such confusion led to statements suggesting that the US might not be the appropriate base for these companies. Indeed, Ripple had even considered moving its headquarters to a different country.

As of now, thanks to a significant shift in SEC policies, the leaders of Ripple and Cardano$0.875147 are being invited to participate in roundtable discussions with the SEC. Alongside Ripple, influential entities like a16z, Kraken, Coinbase, Multicoin Capital, Paradigm, and Circle have been involved in these discussions. Cardano’s founder, Charles Hoskinson, attended a 1.5-hour meeting where key crypto industry players conveyed their requirements to the team tasked with building the framework for future regulations, signaling a promising step for long-term growth.

Charles Hoskinson expressed his views on the meeting:

“Today’s meeting was great. The XRP community, Ripple team, and A16Z did an excellent job. There’s still much to be done, but significant progress has been made towards legislative approval with bipartisan support this year.”

Ripple (XRP) Insights

In the election process, Ripple appears to have invested wisely by financially supporting Trump’s campaign. Companies like Coinbase also put in substantial efforts to ensure their current position. But what is the latest on XRP Coin?

XRP Coin is currently struggling to regain the $3.11 mark, although it trades above $3. The crypto market is processing Powell’s recent comments and may find new direction with upcoming ETF data. Key levels for XRP are $2.97 and $3.11. If factors like potential ETF approval and the “Uptober” narrative become more pronounced, reaching peaks above $3.6 and $4 could be achievable for XRP Coin.