Ripple CEO says 75% of open roles are now US-based due to ‘Trump effect'

Ripple CEO Brad Garlinghouse said that 75% of the company’s open job positions are now based in the U.S., owing to positivity in the sector about Donald Trump’s incoming administration.

“Say what you want, but the 'Trump effect' is already making crypto great again — through his campaign, and in the Administration’s day 1 priorities,” Garlinghouse said in an X post on Sunday.

According to Garlinghouse, Ripple had been making the “vast majority” of its hires outside of the U.S. in the past four years, as the company has been engaged in a years-long legal battle with the Securities and Exchange Commission under now-resigned Gary Gensler’s leadership. 

The company has also signed more deals in the U.S. in the final six weeks of 2024 than it did in the previous six months, the CEO said.

“For Ripple, this is even more personal after Gensler's SEC effectively froze our business opportunities here at home for years,” said Garlinghouse. “The optimism is obvious and very deserved.”

Since Trump’s reelection, the crypto market has experienced a prolonged rally that brought the price of some cryptocurrencies, such as bitcoin, to unprecedented levels. For example, during the period, XRP gained over 330% from around $0.55 to $2.41, according to The Block's XRP price page.

Trump, a strong proponent of crypto, has pledged to make the U.S. the “crypto capital” of the world, promising to launch a strategic national crypto stockpile and ensure that all bitcoin would be mined in the country. Trump is set to take office on Jan. 20.

While the crypto sector anticipates a positive change in policies to take place with the incoming administration, former BitMEX CEO Arthur Hayes said in an essay last month that it may be unrealistic to expect Trump to make such fundamental changes within the limited timeframe, and that the realization would cause a “vicious” sell-off in crypto.