Rumors of a meeting with Trump have sparked criticism from industry insiders towards Ripple Labs and its CEO

ChainCatcher news, according to Cointelegraph, rumors have begun circulating on social media about Ripple Labs CEO Brad Garlinghouse's recent meeting with incoming President Trump, as the company and Garlinghouse face criticism from industry executives. In response to these rumors, former Messari CEO and founder Ryan Selkis commented, "Brad Garlinghouse is vigorously promoting the deployment of XRP and CBDCs." Riot Platforms Vice President of Research Pierre Rochard retweeted Selkis's comment.

Rochard agreed with Selkis's view and wrote, "We cannot allow Ripple to influence U.S. policy-making with their anti-Bitcoin agenda," and expressed hope that Trump would appoint more Bitcoin supporters to his administration. It is rumored that Garlinghouse's meeting with Trump was one of the catalysts for the recent rise in XRP.

When appearing on Fox Business recently, Garlinghouse neither confirmed nor denied the rumors of a meeting with Trump. However, he expressed confidence in the future of the crypto industry under Trump's administration. He also stated that he was not surprised by the positive reaction of the crypto market following Trump's victory on November 5. Garlinghouse pointed out that SEC Chairman Gary Gensler's hostility towards the industry is a major driving force suppressing U.S. crypto projects.