Trump’s SEC Chair Replacement Pledge Sparks Hope for Ripple and Crypto Sector

Donald Trump’s promise to replace SEC Chair Gary Gensler on “day one” is generating optimism within Ripple and the broader cryptocurrency sector for a more favorable regulatory environment in the U.S.

Ripple’s CEO, Brad Garlinghouse, has consistently advocated for regulatory clarity and has urged the appointment of a pro-crypto SEC chair. He has specifically suggested candidates such as Robinhood’s Dan Gallagher, former CFTC head Christopher Giancarlo, and ex-Comptroller Brian Brooks.

@realDonaldTrump, Congratulations! Some fodder for your first 100-day checklist to get things moving: Fire Gensler. Day 1, no delays. In his place, appoint Giancarlo, Brooks, or Gallagher – they’d be massive upgrades in rebuilding the rule of law (and reputation) at the SEC.

SEC vs. Crypto Industry

Since assuming office in April 2021, Gensler has led a stringent crackdown on the cryptocurrency sector, targeting major players such as Coinbase and Ripple for allegedly offering unregistered securities. The SEC even secured a historic $4.5 billion settlement with Terraform Labs and its founder Do Kwon, who has been imprisoned in Montenegro since 2023. In 2024 alone, U.S. regulators imposed $32 billion in fines on crypto companies to resolve compliance disputes.

The crypto community has long criticized Gensler’s approach. Coinbase CEO Brian Armstrong has suggested that the next SEC chair should issue a public apology for the perceived “damage” done to the U.S. crypto sector.

The next SEC chair should withdraw all frivolous cases, and issue an apology to the American people. It would not undo the damage done to the country, but it would start the process of restoring trust in the SEC as an institution.

Typically, the SEC chair resigns with a new administration. This implies that Gensler’s departure would occur in late January, when Trump assumes office. If Gensler steps down, the SEC would face a 2-2 party-line split, likely stalling further aggressive enforcement actions until a new chair is confirmed.

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