Crypto Industry Booms Ahead of Trump’s Presidency

Ripple, the blockchain firm specializing in cross-border payments, is ramping up deals and hiring in anticipation of a crypto-friendly climate under President-elect Donald Trump.

CEO Brad Garlinghouse announced on X that Ripple’s U.S. business activity in the last six weeks of 2024 exceeded its performance in the previous six months. While details remain under wraps, Ripple’s hiring spree reflects confidence in the upcoming administration. The company has added nearly a dozen new U.S. roles since October, as its cryptocurrency, XRP, surged 10% in the past week.

Garlinghouse attributed the optimism to the “Trump effect,” tweeting:

“Say what you want, but the ‘Trump effect’ is already making crypto great again.”

Industry-Wide Hiring Frenzy

Ripple isn’t alone in capitalizing on the renewed enthusiasm for crypto.

• Robinhood: Hiring compliance leads, content managers, and web developers for its crypto division.
• Andreessen Horowitz (a16z): Adding two crypto event managers in San Francisco and New York City.
• Consensys: Recruiting for nine strategic roles to expand its crypto payments, developer tools, and decentralized identity services, according to interim chief people officer Leona Semmens.

Trump’s Regulatory Shift

The crypto industry is optimistic about a relaxed regulatory environment under Trump, contrasting with the stringent policies of outgoing President Joe Biden and SEC Chair Gary Gensler.

Under Gensler, the SEC aggressively pursued legal action against major crypto firms, including Ripple, Coinbase, and Binance, citing non-compliance with securities laws. Trump’s administration, however, promises a sharp pivot:

• Paul Atkins, a pro-crypto former SEC commissioner, will likely lead the SEC. His consulting firm, Patomak, has ties to crypto giants like FalconX and the Digital Chamber of Commerce.
• Howard Lutnick, CEO of Cantor Fitzgerald and an investor in Tether, will serve as Secretary of Commerce.
• David Sacks, PayPal co-founder, has been appointed as the new “AI and crypto czar,” further signaling support for the industry.

Crypto Market Resurgence

The crypto market has surged in early 2025, fueled by optimism surrounding Trump’s presidency:

• Bitcoin reclaimed the $100,000 mark on Monday.
• The total crypto market value rose 9% in the first week of the year, reaching $3.7 trillion (CoinGecko).
• XRP, now valued at $135 billion, remains the fourth-largest cryptocurrency.

With Trump’s pro-crypto administration on the horizon, the industry is gearing up for significant growth. Ripple, Robinhood, Consensys, and other major players are seizing the moment to expand their operations, while regulatory changes promise to reshape the U.S. crypto landscape.

The question now is whether Trump’s policies will deliver the long-term stability the industry craves—or simply fuel another speculative boom.