Ripple CEO Urges Collaboration as U.S. Moves Towards Crypto Reserve; Bessent Confirmed as Treasury Secretary; KuCoin Founder Steps Down in Settlement; Former Biden Advisor Weighs in on Trump's Digital Assets Order

Ripple CEO Brad Garlinghouse has expressed his views on the U.S. government's plan to establish a national cryptocurrency reserve, emphasizing the importance of collaboration and fair competition within the industry. In a post on X, he stated, "Let me be as clear as I can — if we collaborate instead of undercut each other, the crypto industry has a chance right now to achieve many shared goals. This is not and never will be a zero-sum game." Garlinghouse also advocated for a multi-chain future and held a diverse portfolio of tokens, including XRP, BTC, and ETH.

In a separate development, the U.S. Senate confirmed Scott Bessent as the new U.S. Treasury Secretary. Ripple CEO Brad Garlinghouse congratulated Bessent on X, expressing confidence in his ability to enact common-sense economic policies that support U.S. tech and crypto innovation. As Treasury Secretary, Bessent will have influence over tax collections, Treasury debt market, fiscal policy, financial regulations, international sanctions, and overseas investments.

KuCoin, a popular cryptocurrency exchange, has reached a favorable settlement agreement with a U.S. regulatory agency. As part of the agreement, KuCoin co-founder Michael Gan will step down from all positions related to the company and its affiliated companies. Gan expressed gratitude for the support of the KuCoin community and confidence in the leadership team led by BC Wong, believing that under their guidance, KuCoin will continue to grow and create value for users and the industry.

In response to President Trump's new executive order on digital assets, Carole House, a former key White House advisor to President Biden, shared her reactions. House noted similarities with Biden's first executive order, such as promoting technological innovation and competitiveness in digital assets. However, she also pointed out deficiencies in Trump's order, including the lack of focus on addressing key challenges and opportunities presented by digital assets in areas like national security threats, consumer protection, and innovation support.