Ripple CEO Brad Garlinghouse has expressed confidence in the crypto industry’s political position after the November 3 U.S. midterm elections, citing victories by pro-crypto candidates from both major parties.
However, despite Democrats securing control of Congress and industry-backed political committees suffering several expensive defeats, Garlinghouse believes efforts to establish clear digital asset regulations in the country remain on track.
In a Wednesday post on X, Garlinghouse highlighted the election victories of lawmakers supportive of the crypto industry, arguing that political backing for digital assets extends beyond party lines.
“ Pro-crypto members won on both sides of the aisle….and the 67M (and growing) Americans using crypto aren’t going anywhere. New Congress, with the same mission: clear rules, built in America ,” he wrote .
Meanwhile, the industry is assessing the election’s impact on crypto regulation. Despite Democrats gaining control of both chambers, Ripple believes bipartisan support for digital assets will keep efforts to secure clear rules moving forward.
Ripple Chief Legal Officer Stuart Alderoty also weighed in on the election outcome, rejecting suggestions that the results represented a major defeat for the crypto industry.
Congratulating the newly elected lawmakers, Alderoty said Ripple was prepared to work with representatives from both parties to maintain America’s position as a leading destination for blockchain and digital asset businesses.
He highlighted Fairshake’s performance, a crypto-backed political action committee that supported candidates during the election cycle. According to Alderoty, the organization secured meaningful victories in both primary contests and the general election.
He further referenced preliminary figures from the Stand With Crypto initiative, which indicated that a substantial number of pro-crypto lawmakers had secured seats across party lines.
“ Let me be clear — some headlines will call this a setback for crypto. The facts are far more nuanced ,” Alderoty stated .
He attributed the outcome to years of political engagement involving grassroots supporters, industry organizations and advocacy groups. The CLO believes these efforts have helped establish relationships with lawmakers who could play an important role in shaping future digital asset legislation.
Beyond the election results, the Ripple executive also emphasized the growing number of Americans participating in the crypto economy.
According to Alderoty, more than 67 million Americans use digital assets for activities ranging from building financial independence to running businesses and making payments.
Additionally, banks and businesses are increasingly adopting crypto-related services, reflecting the industry’s growing presence in mainstream finance.
For Ripple, this growing adoption reinforces the need for legislation that gives businesses and consumers a clearer understanding of the rules governing digital assets.
Politically, the election results were mixed for the crypto industry, particularly for organizations that spent heavily supporting pro-crypto candidates.
According to Reuters , Fairshake-backed candidates had won 29 of the 34 races decided as of its November 4 report. The committee supported 32 House candidates, including 19 Republicans and 13 Democrats.
However, the industry also suffered notable defeats despite its considerable campaign spending.
One of the biggest setbacks came in Ohio, where Democrat Sherrod Brown won a Senate seat despite crypto-backed political committees spending more than $60 million to defeat him.
Overall, crypto interests spent about $200 million during the election cycle, highlighting the industry’s growing involvement in U.S. politics and its determination to influence the direction of digital asset regulation.
