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Ripple CEO Brad Garlinghouse Blames Biden Govt For Crypto Woes

Ripple CEO Brad Garlinghouse Blames Biden Govt For Crypto Woes

Ripple CEO Brad Garlinghouse took a sarcastic jib at the Biden government, saying that they were behind the headwinds that have been there in the industry. Garlinghouse’s remarks come as the entire American voter class tries to prepare itself for the upcoming elections. The remark also holds significance for crypto voters, who are looking for better crypto literacy among politicians.

Ripple CEO Blames Biden Administration for Crypto Headwinds

Brad Garlinghouse, the CEO of Ripple, in an interview with Fox Business, said that most headwinds that are present in the crypto sphere are due to the Biden administration. According to Garlinghouse strict supervision from the government with proper regulation is a hindrance for the crypto markets.

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Crypto Voters Eye Election Campaigners

Ripple CEO’s statement coincides with how crypto voters are viewing the Biden government and the upcoming elections. A good example of this is John Deaton’s political campaign. It has drawn interest, particularly from the XRP community. Deaton is well known for his open support of cryptocurrencies. Many in the Web3 and XRP communities are thrilled about his commitment to the cryptocurrency industry. His nomination might facilitate the Senate’s passage of cryptocurrency-related legislation.

Encouragement for Deaton’s political run also coincides with increased attention to Elizabeth Warren. According to Bloomberg, Elizabeth Warren’s negative stance against the bitcoin industry has drawn criticism from the industry.

Biden Government Could Lose Crypto Voter Support

Voters who use cryptocurrency will be very important in the US elections this year. Formerly, the US EIA was ordered to stop collecting data on energy use associated with Bitcoin mining activities by the Biden administration. The ruling resulted from a lawsuit filed by the Texas Blockchain Council and Riot Platforms, among other industry players, to stop the data collection.

The EIA was tasked with gathering the data by the Joe Biden administration. The amount of power used for cryptocurrency mining is a contentious topic, yet data collection was required just before the election. This gives rise to worries that the government under Biden 2.0 might not support the bitcoin industry. This suggests that the cryptocurrency community is unwavering in its belief that survival in difficult circumstances is possible.

One in five Americans currently owns digital assets, according to Forbes. 52 million people, to be exact. The amount is significant enough to have a significant impact on the outcome of the US presidential election. Thus, any government hoping to win an election would probably need to win over Bitcoin enthusiasts.

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