At Ripple Swell 2025, one of the most notable conversations came during an interview between Ripple CEO Brad Garlinghouse and Patrick Witt, Executive Director of the President’s Council of Advisers for Digital Assets.
The exchange outlined the U.S. administration’s current stance on digital assets, the legislative direction prioritized, and how market structure reforms may influence the broader financial system in the coming months.
Crypto enthusiast Diana highlighted this interview as one of the most significant moments of the event due to its direct statements regarding market size expectations and the functional differences between major digital assets.
🚨BREAKING: White House Crypto Chief Says “Bitcoin Is Not XRP” — and “Tens of Trillions Are Coming by The Year End” at Ripple Swell🇺🇸🚀
This might’ve been the most electric interview of @Ripple Swell 2025. Ripple CEO @bgarlinghouse sat across from @patrickjwitt Executive… pic.twitter.com/EUy3QGxus5
— Diana (@InvestWithD) November 5, 2025
Clarifying Asset Roles and Market Growth Expectations
Witt emphasized that various digital assets serve different functions. He stated that Bitcoin and XRP should not be viewed interchangeably, and that each major asset is positioned within the financial landscape according to its intended role. He further projected substantial market expansion once the current regulatory efforts progress, suggesting the digital asset market could reach a valuation measured in tens of trillions once foundational legislation is enacted.
According to Witt, the administration intends to have the Market Structure Bill delivered to the President before the end of the year. He also referenced the global growth of stablecoins and indicated that the forthcoming regulatory framework is designed to support their continued integration into financial systems internationally.
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Shift from Restrictive Policies to Strategic Engagement
Witt acknowledged that previous policy directions treated digital assets as a political liability rather than an economic opportunity. He indicated that the current administration, led by President Trump, aims to restore the United States’ leadership position in digital asset innovation.
He highlighted the Genius Act, which addressed confidence and stability in the stablecoin sector, as one of the steps already taken. The Market Structure Bill was presented as the next significant development, reinforcing regulatory clarity.
Institutional Expansion Under Clearer Guidelines
Garlinghouse referenced recent Ripple acquisitions, and Witt noted that acquisition activity across the sector has increased significantly as regulatory uncertainty decreases. He explained that institutional firms are more willing to engage in mergers and acquisitions when the regulatory environment is understandable and stable.
He described this increased activity as an indication of market maturity, in which digital assets transition from being considered speculative instruments to structural components of global finance.
Cooperation Over Division
Witt concluded with commentary on industry cohesion. He argued that the sector benefits when companies and stakeholders align around shared legislative priorities rather than compete over ideological differences.
Garlinghouse agreed, noting that connectivity has been central to Ripple’s approach. Both suggested that regulatory clarity will open the path for global scalability and greater U.S. participation in the digital asset economy.
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