Ripple’s Chief Executive Officer, Brad Garlinghouse, has once again criticized the U.S. government’s past approach to digital assets. Speaking during an interview at the FII PRIORITY Miami summit Friday, he said the crypto industry went through four years of heavy pressure under the Joe Biden administration.
According to him, the previous government’s approach to digital assets never really made sense in practical terms. He said the earlier approach felt like a “war on crypto”. In his view, digital assets should not have been turned into a political target.
Garlinghouse also argued that agencies like the Securities and Exchange Commission hurt innovation by going after companies through lawsuits instead of making clear rules. Because of that, he said the lack of legal clarity pushed businesses, investment, and talent out of the United States.
“We want to make sure that we can’t have another Gary Gensler moment where they try to weaponize policy in a way that is about politics, not about what’s good for the United States, which is why we need to see these things codified,” Garlinghouse said.
Meanwhile, he called the recent joint move by the SEC and the Commodity Futures Trading Commission a major step forward.
Garlinghouse says the CLARITY Act will remove regulatory barriers for banks
Garlinghouse described that move as major progress, but said Congress still needs to pass clear laws so that future administrations cannot reverse course. He said the CLARITY Act remains important because it could give banks more confidence to work with crypto firms without worrying that policy may suddenly change again.
Garlinghouse said clear laws may not change Ripple’s business right away. However, they could make big financial institutions feel safer about entering the crypto space.
He added that many banks already see Ripple’s legal position as stronger after its court wins. Even so, full legislation would remove more of the fear that has kept some institutions on the sidelines.
Garlinghouse highlights Ripple’s strong growth and expanding business lines
Alongside his criticism of past U.S. policy, Garlinghouse used the interview to highlight Ripple’s recent business growth. He said the company has expanded quickly despite volatility in the broader crypto market and pointed to two major acquisitions completed last year, both worth more than $1 billion.
One of those acquisitions was Ripple Treasury, the company’s treasury management platform. Garlinghouse said it has performed far better than expected and is heading toward a record quarter.
He said the platform processed $13 trillion in payments last year, but none of that volume involved stablecoins or crypto. In his view, that shows how much room still exists for blockchain-based payments to grow.
Garlinghouse also pointed to Ripple’s prime brokerage business, formerly Hidden Road and now called Ripple Prime, as another strong growth area. He said the unit has already tripled its revenue run rate since the acquisition was announced.
Ripple CEO noted that XRP still sits at the heart of Ripple’s strategy, especially for payments. He also highlighted that the XRP Ledger is finding a bigger role in areas such as settlement, tokenization, and other real-world financial uses.
Garlinghouse said Ripple’s broader goal is to build bridges between traditional finance and blockchain infrastructure rather than remain limited to the crypto industry’s internal ecosystem.
He forecasted that this year would be a record year for Ripple. According to the CEO, Ripple is focused on integrating its acquired businesses better, while rising corporate and institutional demand is expected to support growth.