u.today
Input Output Global CEO Charles Hoskinson recently attacked Ripple CEO Brad Garlinghouse over his support for the Digital Asset Market Clarity Act (referred to as the CLARITY Act).
"He's being principled. That's genuine passion and concern. He got into the space as a cypherpunk from the early days. He's trying to support what this technology was meant to be about and for," he said.
Some XRP community members have criticized Hoskisnon for "crashing out," but there were also those who were also those who have sided with the
Hoskinson has expressed deep skepticism regarding the passage of the bill. His recent comments have focused on criticizing the political handling of the bill, specifically blaming the Trump administration's appointed "Crypto Czar," David Sacks, and the launch of a Trump-branded meme coin for destroying the bipartisan support the bill originally had.
Hoskinson has publicly stated that he does not believe the bill will survive the current political environment, warning that the "window" for passing it is closing.
He is not certain that the bill will pass during this quarter.
Hoskinson has directed his frustration at David Sacks, the administration's crypto lead. According to Hoskinson, if Sacks fails to pass this bill, this should result in his resignation.
Hoskinson argued that the bill had a strong chance of passing until the launch of a White House-affiliated meme coin turned crypto regulation into a partisan issue.
A crypto optimist
As reported by U.Today, Garlinghouse has endorsed the bill, which sets him apart from some of the other bigwigs within the industry. He argues that an imperfect bill is better than the current lack of regulation, effectively positioning himself as the bill's "optimist" in contrast to Coinbase's Brian Armstrong (who opposed it) and Hoskinson (who doubts it will pass).
Garlinghouse claims that the industry cannot afford to wait for a "perfect" bill. He believes that establishing any statutory framework is a victory.