🚨NEW: There is a renewed sense of urgency among GOP lawmakers to get the Clarity Act passed, I’m told. It’s being driven by heightened political pressure following the fallout from the Housing bill, as well as the realization that time is running short. When senators return from recess on July 13, they’ll have just 20 working days (roughly four weeks) to get the legislation through the Senate and back to the House before the August recess. They depart Washington today with a handful of key issues still unresolved, including ethics. But that's not fazing some industry leaders like @a16z's @milesjennings, who says the pressure and time constraints could ultimately create the conditions needed to strike a deal. @SolanaInstitute President @KristinSmith lays out why she believes there's still a path forward to getting the Clarity Act passed next month. ⬇️

Senate Banking Committee…Clarity Act…May 14 markup. A hard-earned milestone. Washington has a narrow window — let’s not waste it.

Friday has come and gone with no word from @SenatorTimScott or @BankingGOP on scheduling a Clarity Act markup for next week. While Friday is not a hard deadline, a hearing can technically be scheduled up to three days in advance, making Monday the official cutoff before the Senate heads into a weeklong recess on Thursday. Committee leadership may also be prioritizing a confirmation vote for Fed Chair nominee Kevin Warsh before they leave. Without any formal update (a Senate Banking Committee spokesman declined to comment) all signs point to this slipping into May. We know @SenThomTillis has asked for more time to speak with banks on the stablecoin yield issue and has said he wants to release text publicly ahead of a markup. We haven’t seen any text yet, and it seems very unlikely it would be released before Monday in time to notice a markup. This, combined with what I’m hearing from multiple sources in both industry and the Senate that a markup is not expected until at least the second week of May, points to April being off the table.

Going to start spending time on this personally - seems like we all need to solve it sooner rather than later.

🚨HOLY SH*T GUYS!! 👀 Coinbase expects CLARITY ACT deal on rewards within 48 hours. Coinbase CLO - Paul Grewal says: “I am very confident.”

It's very simple. It's saying that the higher the price of XRP, other things being equal, the cheaper it is to use it for payments.

🚨速報：RippleのJoelKatzが暴露、CoinbaseがXRP上場のために数百万ドルを要求 😳🔥 2023年に戻ると、@Ripple CTO @JoelKatzが@CoinbaseのXRP上場をめぐる舞台裏で本当は何が起こったかを語りました。👀 @Coinbase取引所は明らかにビジネス上の利益になるにもかかわらず、　$XRP の上場を拒否しました… 😵 なぜなら、彼らは@Rippleに対して上場のために数百万ドルの支払いを要求したとされ、そしてRippleはそれを拒否したからです。😳 「彼らはRippleに上場のために数百万ドルを要求し、私たちはそれを拒否した。」 ❌ その後、結局@Rippleが何らかの合意に達し、一度$XRPが上場すると、それはすぐに取引所の収益の20%を占めることになりました。🤯 @Coinbaseは$XRPが巨大なビジネス成功になると知っていたとされます… 📈 それでも@Rippleが支払うまで、それを壁の向こうに置いておきました。👀 これはCoinbaseが「公正」にプレイし、暗号通貨コミュニティのことを「考えている」ことについてすべてを物語っています... 結局コインベースが欲しいのは、公正、健全、ルールではなく エプスタイン絡みも含めてお金の為なのでござるかな😤 -@InvestWithD #リップル　#XRP #RLUSD #Ripple #コインベース　#ブライアンアームストロング

Brian Armstrong is fighting for our yield. Lots of cartel propaganda Twitter accounts trying to make him look like the bad guy for holding up the CLARITY act, but we deserve to choose where we get our fucking yield. Fuck the banks.

Can someone please explain to me the logic here? No compromise on CLARITY means no restrictions on intermediaries offering stablecoin rewards. If you believe the banks’ argument about deposit flight, this would be catastrophic. Feels like I’m watching an arsonist threaten to burn down their own home.