Sean McBride, the former director of Ripple, has added to the crypto czar speculation by saying the company's CEO, Brad Garlinghouse, could be stepping down to take a new role under the Trump administration.
Donald Trump’s new crypto czar position is one of a kind as it showcases the US administration’s growing interest in fostering innovation and regulating the crypto industry
McBride tweeted this in response to questions about the crypto czar appointment on social media platforms X.
“There is a real and growing possibility that Brad Garlinghouse will be chosen as Trump’s new Crypto Czar,” the ex-Ripple executive tweeted.
This sparked anticipation and discussion in the XRP community, causing the token to rally.
McBride further underlined the implications of this move, saying it would lead to Garlinghouse stepping down from Ripple's CEO role.
. “Yes, and I have a good idea who would take his place,” he replied, hinting at possible succession plans within Ripple.
This speculation is in line with the latest developments in Ripple which includes the legal battle with the SEC. According to McBride, the timing will make Garlinghouse’s transition mutually beneficial.
“I think the timing works for Brad and Ripple given some of the other things happening publicly and behind the scenes. Things winding down (finally) with the lawsuit, potentially gearing up for an IPO, potential M&A, launching new products, etc. The same could be said for staying. We will see what happens,” explained McBride in a tweet.
When asked about the ex-CFTC chairman Christopher Giancarlo getting the crypto czar role under the Trump administration, McBride said he could be on the list but “he made it clear he doesn’t want the SEC role.”
This SEC role reference question shows the general interest in leadership changes in the regulator. Earlier this month, the current SEC Chair Gary Gensler announced he is resigning on January 20 as Trump returns to the White House.
The crypto czar role is crucial for the industry as it signifies the government’s investment in digital assets and blockchain technology at a greater level.
Both the Ripple CEO Brad Garlinghouse and the former CFTC chairman Christopher Giancarlo are known for their support for increasing regulatory clarity in the crypto market. They would enhance the system with their extensive industry experience.