Brad Garlinghouse, CEO of Ripple, expressed confidence in the newly confirmed Treasury Secretary Scott Bessent, highlighting his potential to provide strong leadership and support policies that promote U.S. technological and cryptocurrency innovation. The statement was made on X on January 28.

According to AP News, Scott Bessent was confirmed as the 79th U.S. Treasury Secretary on January 27, 2025, with a Senate vote of 68–29, including support from 16 Democrats. Bessent faces significant responsibilities such as negotiating the extension of provisions in the 2017 Tax Cuts and Jobs Act set to expire in 2025. He is also tasked with addressing growing deficits and pursuing a target of 3% annual economic growth. His role includes managing public debt, advising on fiscal policy, and exploring the feasibility of creating an External Revenue Service to collect tariffs.

Bessent said that President Trump's support for cryptocurrency aligns with Republican Party values, describing crypto as "about freedom" and asserting that "the crypto economy is here to stay." In a July Fox Business interview, he remarked that "everything is on the table with Bitcoin," noting its role in attracting younger and previously disengaged investors into the market.

Garlinghouse's X post | https://x.com/bgarlinghouse/status/1884031313931559149

According to Hope Global Forums, Bessent serves as CEO and Chief Investment Officer of Key Square Capital Management, an investment partnership he founded in 2015. His previous roles include serving as Chief Investment Officer for Soros Fund Management from 2011 to 2015 and managing its London office during the British pound devaluation in 1991. Additionally, Bessent has taught economic history at Yale University as an adjunct professor and is a trustee at Rockefeller University where he chairs the investment committee. He holds a Bachelor of Arts degree from Yale University and is a member of the Council on Foreign Relations.

Garlinghouse has been CEO of Ripple since 2017 after joining the company in 2015 as President and COO. A Kansas native, he holds an MBA from Harvard Business School and a bachelor's degree from the University of Kansas. His career includes leadership roles at Yahoo!, AOL, Hightail, along with several board positions.