Ripple’s Brad Garlinghouse expresses disappointment following the failed vote. The Clarity Act was something Ripple and many teams worked strongly for. Does Trump have a Plan B up his sleeve?
The news of the Senate blocking the Clarity Act has disappointed even the prominent figures of the larger crypto community. What was expecting to be a clear signal for the vote to pass has been blocked severely, leading many in the space feeling disheartened. To highlight, Ripple’s Brad Garlinghouse expresses disappointment following failed Clarity Act vote, alongside many others.
The Clarity Act needed only 60 votes to pass and received only 49, marking the bill 11 votes short to pass. As something that was expressed by the Republicans as a guaranteed passing, many figures in the crypto space who worked together to bring clarity to the space are left feeling crushed, disheartened, and heavily disappointed. As we can see from the post below, the CEO of Ripple, Brad Garlinghouse, shares his laments about the situation.
https://twitter.com/DooridooriX/status/2099979249398792467He says that this truly stings as the Ripple team gave everything they had to get the Clarity Act across the finish line, as did most of the industry. He highlights how this was an opportunity bigger than Ripple or one company and that they did this for the industry, for consumers and to cement the US’s position as the crypto capital of the world and as a leader in the future of finance. Ultimately, consumers and U.S. competitiveness got left behind.
In addition, he states that a post mortem needs to be done on why this failed. He claims that the politics of the democrats (the anti-crypto army) was elevated over good policy. Despite the loss, he says that there is still reason for optimism for crypto in the United States. Now, the SEC, under Chair Atkins, and the CFTC, under Chair Selig, will continue to work hard to issue rules to fill the legislative gap and we will continue to be actively engaged in that rule making process.
Lastly, he states that Ripple's business has never been stronger, with real demand across traditional finance and the digital asset ecosystem. In response to his port, one voice says that Brad once stated that the Clarity Act was 90% guaranteed. Now, he believes the narrative to shift to a “we should wait until the year 2030”. Meanwhile, another voice believes that the failed vote would lead to Trump’s Plan B to play out.
On that, the response says that now, the Trump administration now has nothing left to fear in the crypto market. The Democrats were given more than enough chances and it was the Democratic Party that rejected America’s digital-dollar dominance. Now Trump’s crazy Plan B kicks into action. The voice predicts that from this point forward, Trump’s full-scale crypto offensive will begin.
