Ripple CEO Says Crypto Will Thrive Without CLARITY Act
The Senate's failure to advance the Digital Asset Market Clarity (CLARITY) Act has dealt a significant blow to the crypto industry, but Ripple CEO Brad Garlinghouse remains confident in the sector's future. Speaking at a digital asset event in Kansas City on Tuesday, Garlinghouse stated that 'when you have a technology that's better, faster, stronger... that usually wins.'
Garlinghouse argued that the traditional financial system has struggled to keep pace with rapid technological advances and questioned why the United States would risk giving up its leadership in financial innovation to competing markets overseas.
The Senate's rejection of the CLARITY Act comes after a long-awaited push for market structure rules, but the crypto industry has already secured a major legislative victory in Washington with the passage of the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act in 2025.
Crypto markets came under renewed pressure following the Senate vote, with Bitcoin quickly tumbling to a session low near $75,500 within minutes of the vote, while Ether fell below $2,400 and Solana slipped below $97.