XRP News: Donald Trump has nominated venture capitalist David Sacks as the “White House AI & Crypto Czar.” The All-In Podcast co-host and former PayPal COO Sacks is known for favoring Ripple in the long-running US SEC lawsuit.
Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty said Sacks will push President Trump’s crypto and AI pro-innovation plans forward. It will also bring upside momentum to the cryptocurrencies he supports, including XRP and ZRX.
Crypto Czar David Sacks Is SEC v Ripple, XRP Expert
US President-elect Donald Trump on December 5 appointed David O. Sacks as the “White House AI & Crypto Czar.” Trump added that Sacks will guide the Administration in Artificial Intelligence and Cryptocurrency policies, two areas extremely vital to the future of American competitiveness. This is good news for Ripple and XRP community as he rooted for the company during the SEC lawsuit.
“David will focus on making America the clear global leader in both areas. He will safeguard Free Speech online, and steer us away from Big Tech bias and censorship.”
Moreover, he will work towards establishing a legal framework for the crypto industry, bringing crypto regulatory clarity to promote and thrive the industry in the United States.
Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty React
Ripple CEO Brad Garlinghouse congratulated David Sacks on the appointment. Garlinhouse said, “He understands tech inside and out, and importantly, will push forward President Trump’s crypto and AI pro-innovation plans.”
Stuart Alderoty thinks Sacks is another great pick by the Trump administration. Paul Atkins’ nomination as SEC Chairman to replace Gary Gensler by Trump sparked a massive bullish sentiment in the crypto industry. Alderoty said it will bring the “pro-business, pro-innovation, and fresh perspective we need.”
He is also excited to work with David Sacks and the industry to finally establish clear rules of the road for crypto in the US. “The future starts now!” he claimed.
XRP News: Ripple Vs SEC Lawsuit Nears End
David Sacks has followed the Ripple vs SEC lawsuit and XRP news. An old video has emerged where he said Ripple won the case as Judge Analisa Torres ruled that XRP is not a security.
John Deaton reacted to the video, claiming the win was a total victory for XRP. The price is now trading resiliently above $2.35 with a $134 billion market cap.
As someone very involved in the @Ripple XRP case, the win was a total victory regarding everything important. And as @Jason said to @DavidSacks let’s see how XRP trades later. Hate it or love it, XRP above $2 with a $133B market cap is resilient. https://t.co/mYx06iLLBt
— John E Deaton (@JohnEDeaton1) December 6, 2024
Former CFTC Chairman Chris Giancarlo and pro-XRP lawyers strongly claim that the Ripple vs SEC lawsuit appeal will likely get dropped or dismissed. Trump’s pro-crypto team, including Paul Atkins and David Sacks, has increased the odds of lawsuit resolution.
Ripple CEO Brad Garlinghouse has expressed his support for Atkins, calling him an “outstanding choice” to lead the watchdog. Meanwhile, speculation over whether the U.S. SEC will continue its legal battle or allow the deadline to pass as the January 15 deadline approaches.
Amid the bullish news, XRP price has rallied 400% amid the change in leadership in the government agencies. The price currently trades at $2.36, up nearly 2% in last 24 hours and 50% in a week.
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