Ripple CEO Brad Garlinghouse Backs Trump’s Pick Scott Bessent: End of the SEC Lawsuit Near!

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Ripple CEO Brad Garlinghouse shared the good news with the XRP and the broader crypto community. Garlinghouse said that Donald Trump has finally elected Scott Bessent a prominent hedge fund manager known for his pro-cryptocurrency stance, to serve as the next Secretary of the Treasury. With this pro-crypto stance, Garlinghouse hints at the end of the ongoing Ripple vs SEC lawsuits

Scott Bessent New US Treasury Secretary

Scott Bessent, founder of Key Square Group, has been chosen by Donald Trump to become the next US Treasury Secretary. Bessent’s background includes work with Wall Street and George Soros, and he was an early backer of Trump’s 2024 campaign.

Bessent has been a strong supporter of Trump’s plan to create a Strategic Bitcoin Reserve and has a clear vision for the future. Trump shared on Truth Social that Bessent will help push policies that support the America First agenda, improve U.S. competitiveness, and fix trade imbalances.

But Trump didn’t stop there—he also nominated Congresswoman Lori Chavez-DeRemer for U.S. Labor Secretary to improve wages and bring back manufacturing jobs.

Ripple CEO: Bessent A Perfect Choice 

In addition to this Ripple CEO Brad Garlinghouse tweeted his support for Scott Bessent as the U.S. Treasury Secretary. He believes Bessent is the perfect choice, especially for pushing forward innovation and supporting cryptocurrency. 

Garlinghouse thinks Bessent could be the most crypto-friendly Treasury Secretary the U.S. has had.

With Bessent in charge, Garlinghouse hopes for policies that will help the crypto industry grow. He sees Bessent as someone who truly understands the value of digital currencies and could lead the way for better regulations.

Gary Gensler to Resign from SEC

As Gary Gensler prepares to step down from the SEC in January 2025, speculation rises about the future of the XRP lawsuit. Pro-XRP lawyer Jeremy Hogan recently predicted that the Ripple vs. SEC case could be settled by the spring or early summer of 2025.

The news has already sparked a strong reaction from the XRP market, with its price soaring by over 60%. Currently, XRP is trading at $1.56, showing a significant gain over the past week.