This afternoon, Senate Democrats proved they were never truly serious about protecting consumers and preserving American leadership. I sat at the table with Senate Democrats working in good faith to get this done while they played games.
For over a year, they presented demands and the second we met them, they made new demands and moved the goal posts. Today they voted against real limitations on politicians’ personal crypto investments. They voted against protecting American consumers from the scammers and fraudsters this bill would have shut down. They voted against American leadership, and handed China and every one of our foreign competitors exactly what they wanted. Democrats chose politics over the American people—again. That’s not leadership on their part, that’s surrender to their radical, socialist base.
The once-proud Democratic party is anti-consumer and pro-illicit finance, anti-ethics, anti-free enterprise, anti-worker, anti-livable wage jobs, and pro-socialism. The Democrats are now anti-American. Sad!
1/ This one stings. Our team gave everything we had to get the Clarity Act across the finish line. So did most of the industry. This was an opportunity bigger than Ripple or one company - we 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.
2/ A post mortem needs to be done on why this failed (more from me on that in the days ahead). The politics of the democrats (the anti-crypto army) was elevated over good policy.
3/ 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.
4/ Ripple's business has never been stronger — real demand across traditional finance and the digital asset ecosystem. A missed vote in Washington doesn't change our momentum, our global footprint, or our customers.
Let's see what the 67 million Americans voters holding crypto have to say about this during the midterms.
Here are the senators that voted against advancing the Crypto Clarity Act:
Republicans:
• Thom Tillis
• Jerry Moran
• Josh Hawley
• Susan Collins
Independents:
• Angus King
• Bernie Sanders
Democrats:
• Andy Kim
• Tim Kaine
• Jack Reed
• Mark Kelly
• Ed Markey
• Tina Smith
• Jon Ossoff
• Alex Padilla
• Ron Wyden
• Dick Durbin
• Gary Peters
• Peter Welch
• Jeff Merkley
• Cory Booker
• Jacky Rosen
• Adam Schiff
• Brian Schatz
• Patty Murray
• Mark Warner
• Elissa Slotkin
• Mazie Hirono
• Chris Murphy
• Ben Ray Luján
• Ruben Gallego
• Maria Cantwell
• Maggie Hassan
• Amy Klobuchar
• Martin Heinrich
• John Fetterman
• Tammy Baldwin
• Michael Bennet
• Chuck Schumer
• Jeanne Shaheen
• Chris Van Hollen
• Elizabeth Warren
• Kirsten Gillibrand
• Raphael Warnock
• John Hickenlooper
• Tammy Duckworth
• Richard Blumenthal
• Lisa Blunt Rochester
• Sheldon Whitehouse
• Catherine Cortez Masto
In her latest sciolistic letter to me, @SenWarren made it clear that she knows even less about foreign exchange markets than she does about banking.
What is equally shocking, but not surprising: not a single member of the media mob has a rudimentary-enough level of financial market literacy to spot her remedial error.
To reiterate: under @POTUS, the United States delivers for America’s trusted partners.
For a fuller explanation, I recommend Senator Warren take any entry level course in international finance for her and her staff, or I can personally give her a tutorial on Foreign Exchange for Dummies. Although I am not holding my breath, I hope her next letter will demonstrate that she has learned the difference between a currency purchase and a swap or a loan.
Sounds like clarity is coming either way:
1. 60+ votes in the Senate on September 15th
2. Or a new set of rules from the CFTC and SEC on September 16th
You won’t believe what just happened LIVE…
Ripple CEO Brad Garlinghouse walked into the CFTC meeting and went NUCLEAR. 🤯
He didn’t hold back. He called out the entire four-year SEC war, admitted the regulatory chaos is still crushing American innovation, and demanded the CFTC and SEC finally get their act together.
The look on the panel’s faces? Priceless.
The game just changed.
THE BLOCK: Binance founder Changpeng Zhao says many are missing the "bigger picture" behind Donald Trump's pledge to bring Hyperliquid to the U.S.
"Policy cannot be applied to only one company/project. What's good for one is good for the rest of the industry," CZ said. hyperliquid:native
علمتني الحياة..
في ميزان الإنسانية... لا يقاس الحضور بارتفاع الصوت.. بل بعمق الأثر..
لا يقاس الحضور بمن يتحدث عن آلام البشر.. بل بمن يخففها...
لا يقاس بالحضور في عناوين الصحف... بل بالحضور في حياة الناس...
عملتني الحياة بأن الإنسانية لا تحتاج لمن يتحدث باسمها... بل بمن يعمل من أجلها..
الإمارات اختارت عبر تاريخها... وقيمها... ومنذ تأسيسها عبر زايد الخير وإخوانه أن تكون في الجهة الصحيحة من العمل الإنساني..
وستبقى بإذن الله ذات أثر... وصانعة أمل وحياة
#اليوم_العالمي_للعمل_الإنساني
علمتني الحياة أن التفكير بطريقة مختلفة، أو بناء شيء لم يعتد عليه الناس أو لا يفهمه الناس في وقته يجلب النقد من أصحاب النظرة الضيقة وممن لا يملكون البصيرة لرؤية المستقبل.
طبيعة العمل العام أنه يجلب النقد.. ولابد أن تتحمل، افعل الصواب.. دعهم يتحدثون، أما إذا أردت رضا الناس الكامل فلا تقل شيئاً.. ولا تفعل شيئاً.. ولا تكن شيئاً.
#من_كتاب_علمتني_الحياة
قبل ستة عقود، بدأت من أبوظبي قصة قائد آمن بأن المستقبل يُصنع بالإرادة والعمل، وأن الإنسان هو أعظم استثمار للأوطان. وفي ذكرى تولي الوالد المؤسس المغفور له الشيخ زايد، طيب الله ثراه، مقاليد الحكم، نستذكر إرثاً وطنياً صنع نهضةً متواصلة، ورسخ قيماً ستظل نبراساً لمسيرة الإمارات.
Today marks the 60th anniversary of the accession of the UAE’s Founding Father, the late Sheikh Zayed, as Ruler of Abu Dhabi on 6 August 1966. On this historic milestone, we recall the beginnings that nurtured our collective journey of progress and laid the foundations of the Union. Inspired by Sheikh Zayed’s leadership and vision, we will continue to advance his enduring belief that people must always be placed at the heart of efforts to build a sustainable and prosperous future for our nation.
I am continuing to work with Democrats every day on the Clarity Act. I worked late last night on the CFTC portion of the bill and I'm proud that @POTUS has gone further than any president in history to protect ethics.
Let's provide a clear regulatory framework and keep this industry here in the United States by passing the Clarity Act.