Ripple CEO Brad Garlinghouse makes highly-anticipated appearance on 60 Minutes

Source Cryptopolitan

Ripple CEO Brad Garlinghouse appeared on CBS’ 60 Minutes, delivering a sharp, unapologetic defense of Ripple’s strategies, XRP’s meteoric rise, and the crypto industry’s growing political muscle.

Ripple, alongside two other crypto firms, funneled $144 million into super PACs supporting pro-crypto candidates across party lines. These efforts weren’t subtle, and the results were loud.

Of the 62 congressional candidates backed by the industry (29 Republicans and 33 Democrats) 85% walked away with victories. “Do I think we had an impact? Absolutely,” he said.

Crypto cash and political clout

Ripple’s role in the 2024 election cycle was a calculated move, with one-third of all corporate donations to super PACs coming from the crypto industry. The stakes were high, and Brad, along with other industry elites, knew that they needed to seize control of the Congress.

Margaret Brennan, the interviewer, pressed him on whether Ripple’s financial contributions amounted to “buying elections.” Brad dismissed the notion, arguing that voters ultimately made their choices, but he didn’t deny Ripple’s heavy hand in funding candidates’ campaigns.

“We educated voters, as many industries do, about candidates,” he said, while also acknowledging, “We absolutely supercharged candidates with money.”

President Donald Trump’s Cabinet picks signaled a confirmation of his expected crypto-friendly approach. Treasury Secretary nominee Scott Bessent has said that “Crypto is about freedom and the crypto economy is here to stay.”

The president also tapped Paul Atkins, a former SEC commissioner with ties to crypto companies, to replace outgoing Chair Gary Gensler at the Securities and Exchange Commission. He has also appointed the first-ever White House Crypto czar.

The SEC’s hostile crackdown and Ripple’s fightback

Ripple’s battles with the SEC are nothing new. The agency filed a lawsuit against Ripple in December 2020, alleging that XRP was an unregistered security. Brad called the lawsuit a symptom of a broader “war on crypto,” a conflict he says was fueled by Gensler’s leadership.

“Why did these companies come together and organize Fairshake? It’s a reaction to a war on crypto,” Brad said, referring to the super PAC Ripple helped create.

It is now the largest crypto super PAC. Brad emphasized that Ripple has spent over $150 million fighting the SEC in court, arguing that XRP doesn’t fit the traditional definition of a security.

“I think I’m reasonably intelligent about something like, ‘What is a security?’ Never once had I considered the possibility that XRP is a security,” he said.

Not everyone agrees with Ripple’s position. John Reed Stark, a former SEC official, argued that courts have consistently ruled in favor of the SEC, describing the designation of XRP as a security as “an obvious call.” 

Stark, who owns no crypto and has never worked for the industry, doubled down on his critique, calling crypto “a scourge” and pointing out its use in crimes like ransomware, sanctions evasion, and money laundering. “North Korea is financing their nuclear weapons program using crypto,” he has said.

Brad dismissed such broad-brush accusations, pointing out that bad actors exist in every industry. “Bernie Madoff went to jail. That doesn’t make every hedge fund manager a criminal,” he countered, adding that Ripple is one of the “good actors,” working with financial institutions to improve cross-border payments using XRP.

“We’ve been asking to be regulated. Just give us clear rules of the road,” Brad said. Another thing Trump also wants to do is move the regulatory authority of crypto entirely from the SEC to the Commodity Futures Trading Commission (CFTC), an agency with a reputation for being more industry-friendly.

But Stark said that the lighter regulatory touch will not adequately protect investors. “The SEC’s mandate is investor protection. The CFTC is about market integrity. It’s a much easier regulatory regime for the crypto industry,” he said.

XRP’s resurgence and Ripple’s next moves

Since Election Day, XRP’s value has surged over 300%, reinforcing its position as a market leader. Ripple hasn’t wasted time capitalizing on this momentum. Brad recently announced an additional $25 million contribution to Fairshake, bringing its total funds to $103 million.

The super PAC is already preparing for the next election cycle, ensuring that pro-crypto candidates remain well-funded. Despite the growing acceptance of crypto, skeptics like JPMorgan CEO Jamie Dimon and legendary investor Warren Buffet continue to dismiss it as a “pet rock” and “rat poison squared.”

Brad brushed off such criticism, pointing to the success of the Bitcoin ETF, which launched earlier this year and attracted record-breaking investments. “It attracted more assets in less time than any ETF ever before.” At press time, XRP was worth $2.50, down by 3.5% in the past twenty-four hours.

Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap

Disclaimer: For information purposes only. Past performance is not indicative of future results.
placeholder
Fed hike odds near 90% into Wednesday's decision — how to trade the dollar, gold and the S&P 500A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.
Author  Suzie
Sep 14, Mon
A 0.3% monthly core CPI print has lifted the market-implied probability of a 25bp Fed hike on 16 September to roughly 86.5% ~ 90%, which would be the first increase since July 2023. Here is the decision timeline, the pricing versus the forecasts, both scenarios, and the key levels for the dollar, gold and the S&P 500.
placeholder
Gold falls below $4,300 as higher US yields bolster Fed rate hike betsGold price (XAU/USD) tumbles to near $4,295 during the early Asian session on Tuesday. The precious metal faces some selling pressure as rising bond yields and surging energy prices strengthen expectations that the US Federal Reserve (Fed) will raise interest rates this week. 
Author  FXStreet
Sep 15, Tue
Gold price (XAU/USD) tumbles to near $4,295 during the early Asian session on Tuesday. The precious metal faces some selling pressure as rising bond yields and surging energy prices strengthen expectations that the US Federal Reserve (Fed) will raise interest rates this week. 
placeholder
【Daily Brief】10-year Treasury yield briefly tops 5%, S&P 500 slips to 7,602 and the dollar firms at 99.3 as the Fed's decision eve beginsThe 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.
Author  Irene Q.
Sep 15, Tue
The 10-year Treasury yield touched 5.014% on Monday — its first print above 5% since October 2023 — while the S&P 500 closed 0.48% lower at 7,619.98 and the dollar index firmed to 99.3. Here is the full market wrap ahead of Wednesday's FOMC decision, the dot plot and the August retail sales report, plus today's CLARITY Act Senate vote.
placeholder
Silver breaks $64 as precious metals rebound — can gold hold the $4,280 line into the Fed decision?Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.
Author  Suzie
16 hours ago
Silver has climbed back above $64 an ounce for the first time this week, leading a broad rebound across precious metals hours before the Federal Reserve delivers what is expected to be its first rate hike since 2023. Spot silver was last at $64.64, up 1.49% on the day, while gold reclaimed $4,300 and platinum and palladium both advanced. The question now is whether the bounce is a genuine turn — or a pause before the Fed's dot plot decides the next move.
placeholder
Bitcoin falls below $75,000 as the CLARITY Act fails in the Senate — what the vote means for cryptoThe US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.
Author  Suzie
16 hours ago
The US Senate blocked the Digital Asset Market CLARITY Act in a 49-50 procedural vote, sending Bitcoin briefly below $75,000 — its biggest one-day drop since June. Ethereum fell more than 8%, Coinbase slid 10% and $75 billion of crypto market value evaporated. Here is what the vote was, why it failed, and the levels that matter now.
goTop
quote