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Ripple’s CEO Brad Garlinghouse extended his congratulations to venture capitalist David Sacks on his recent appointment as the newly established White House AI and crypto czar, which was revealed this week.
Ripple CEO Commends David Sacks On New Position
In a December 6 post on X, Garlinghouse expressed his admiration for Sacks and his new position under President-elect Donald Trump, describing the pair as a “dream team.”
Huge congrats to @DavidSacks on this appointment – he understands tech inside and out, and importantly, will push forward President Trump’s crypto and AI pro-innovation plans.
Dream team! https://t.co/FFMSCIiscl— Brad Garlinghouse (@bgarlinghouse) December 6, 2024
“Huge congrats to @DavidSacks on this appointment – he understands tech inside and out, and importantly, will push forward President Trump’s crypto and AI pro-innovation plan,” Garlinghouse remarked.
Trump announced the appointment of the South African-born entrepreneur to the new position late Thursday, indicating that Sacks will oversee A.I. and cryptocurrency policy during the former reality television star’s second term in office.
“He will work on a legal framework so the crypto industry has the clarity it has been asking for and can thrive in the U.S.,” Trump stated in a December 5 post on Truth Social announcing the news.
Brad Garlinghouse’s Legal Battle With The SEC
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Garlinghouse’s Ripple Labs has been engaged in a long-standing conflict with the United States Securities and Exchange Commission (SEC) regarding alleged violations of the nation’s federal securities laws.
Many within the crypto community view the commission’s enforcement actions against Ripple as overly aggressive. The federal regulator is also pursuing litigation against several significant players in the crypto space, including Kraken and Coinbase.
SEC chair Gary Gensler has faced considerable criticism for his regulation-by-enforcement strategy concerning the blockchain sector overall. However, he has recently announced his intention to leave the regulator ahead of the former reality television star’s inauguration on January 20.
In his farewell remarks, Gensler recognized that “the Securities and Exchange Commission is a remarkable agency. It has been an honor to serve with them on behalf of everyday Americans.”
Trump, who had previously vowed to dismiss the agency’s head, has since revealed Gensler’s successor as crypto-friendly former SEC Commissioner Paul Atkins.
Atkins is widely anticipated to adopt a gentler, more balanced approach to digital assets.
Sacks, for his part, is a veteran of Silicon Valley who is expected to implement a blockchain-friendly regulatory framework.
The appointment of several pro-crypto advocates will likely ensure that Trump delivers on his commitment to introduce cryptocurrency policies that support the sector.
However, it remains uncertain what those regulations will ultimately entail.
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