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How the Crypto Vote Could Swing This Election
The Stakes Are Incredibly High
Teeka Tiwari
October 30, 2024
How the Crypto Vote Could Swing This Election
If anyone has cause to be skeptical of politicians, it’s Brad Garlinghouse.
Garlinghouse is the CEO of Ripple Labs, the company behind the Ripple (XPR) token.
XRP is the seventh-largest crypto with a market cap over $30 billion. And Garlinghouse is one of the most important players in the industry.
In 2020, the U.S. Securities and Exchange Commission (SEC) sued Ripple for allegedly issuing XRP as an unregistered security. Ripple counterargued that XRP is not a security like stocks or bonds – but functions more like bitcoin (BTC).
The SEC considers bitcoin a commodity. Commodities are regulated by the Commodities Futures Trading Commission (CFTC), which has taken a friendlier crypto stance than the SEC.
I don’t want to get into all the legalities here.
Long story short, XRP won its argument. A federal judge ruled XRP is not a security when sold to retail investors on exchanges. It was a major victory not only for Ripple, but for the entire crypto industry.
It was also a wakeup call…
To get the anti-crypto crusaders at the SEC off his back, Garlinghouse had to get political. So it should come as no surprise that Ripple has donated at least $45 million to a pro-crypto political action committee (PAC).
Friends, I’m no political expert. But I do know money.
A man like Garlinghouse doesn’t spend millions of dollars during an election if he isn’t convinced that the stakes aren’t incredibly high.
Here’s what he told CNBC in an interview last week:
This is the most important election we’ve had, but I also believe no matter what happens, we’re going to have a more pro-crypto, more pro-innovation Congress than we’ve ever had.”
Garlinghouse is reportedly highly optimistic about the post-election environment for crypto. To me, this is just more evidence that the outcome of the 2024 U.S. presidential election will trigger a massive boom in a small corner of the crypto market.
That’s why tonight at 8 p.m. ET, I will do something I’ve never done before in my career as a financial newsletter writer.
I’m going on camera to announce my official prediction of who I believe will win the race between Vice President Kamala Harris and President Donald Trump.
And those who act before the results are announced on November 6 could position themselves for 500x gains or more.
So whether you support VP Kamala Harris, President Trump – or neither candidate – you’ll want to attend this historic event.
How Crypto Can Swing the Election