{"id":815040,"date":"2024-12-27T01:17:55","date_gmt":"2024-12-27T07:17:55","guid":{"rendered":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/27\/ripple-ceo-and-crypto-moguls-enjoy-billions-in-wealth-growth-after-trumps-election\/"},"modified":"2024-12-27T01:17:55","modified_gmt":"2024-12-27T07:17:55","slug":"ripple-ceo-and-crypto-moguls-enjoy-billions-in-wealth-growth-after-trumps-election","status":"publish","type":"post","link":"https:\/\/newsycanuse.com\/index.php\/2024\/12\/27\/ripple-ceo-and-crypto-moguls-enjoy-billions-in-wealth-growth-after-trumps-election\/","title":{"rendered":"Ripple CEO And Crypto Moguls Enjoy Billions in Wealth Growth After Trump\u2019s Election"},"content":{"rendered":"
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Following the recent US election, leading figures in the cryptocurrency world have seen a massive boost to their wealth, according to a report by Coindesk.<\/a><\/p>\n

CEOs like Coinbase\u2019s Brian Armstrong and Ripple\u2019s Brad Garlinghouse experienced major financial gains after the election results. Armstrong, for example, earned an additional $129 million from stock sales, while Coinbase\u2019s market value surged by $21 billion. Armstrong\u2019s stake in Coinbase increased by nearly $2 billion, bringing its total value to $6.4 billion.<\/p>\n

Coinbase also made a notable political contribution, donating $74 million to various political action committees (PACs) to support the election. Armstrong\u2019s stock sales were part of his diversification strategy, ensuring continued control over his company.<\/p>\n

Ripple\u2019s Garlinghouse saw even more dramatic gains after the value of XRP, the company\u2019s native token, soared from $0.50 to $2.32 post-election. This surge in XRP\u2019s value led to a 54.7% increase in its market cap over the past 30 days, sending it to the third position among all digital assets. Garlinghouse also owns more than 6% of Ripple and a significant amount of XRP, which has now increased in value by over three times since the election.<\/p>\n

\u201cThe crypto market is up over $1 trillion since Trump won \u2014 that\u2019s the price of Gensler\u2019s foot on the neck of the market, and he\u2019s not even officially gone yet,\u201d Garlinghouse told Coindesk. Although Ripple Labs\u2019 private valuation was last estimated at around $11 billion earlier this year, the election has likely increased the value of Garlinghouse\u2019s stake, causing his personal wealth to soar.<\/p>\n

Additionally, major investors in crypto firms such as Andreessen Horowitz (A16Z) also enjoyed major gains, outpacing their election-related investments. Ripple and A16Z each donated tens of millions to political causes, with Ripple contributing $73 million and A16Z $70 million.<\/p>\n<\/div>\n

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\n \ufeffAnjali Belgaumkar<\/p>\n","protected":false},"excerpt":{"rendered":"

ripple Following the recent US election, leading figures in the cryptocurrency world have seen a massive boost to their wealth, according to a report by Coindesk. CEOs like Coinbase\u2019s Brian Armstrong and Ripple\u2019s Brad Garlinghouse experienced major financial gains after the election results. Armstrong, for example, earned an additional $129 million from stock sales, while<\/p>\n","protected":false},"author":1,"featured_media":815041,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22791,25213],"tags":[],"class_list":["post-815040","post","type-post","status-publish","format-standard","has-post-thumbnail","category-crypto","category-ripple"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/815040","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/comments?post=815040"}],"version-history":[{"count":0,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/posts\/815040\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media\/815041"}],"wp:attachment":[{"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/media?parent=815040"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/categories?post=815040"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newsycanuse.com\/index.php\/wp-json\/wp\/v2\/tags?post=815040"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}