Brad Garlinghouse, CEO of Ripple Labs, publicly criticized Senator Cynthia Lummis after she canceled a meeting with him. This unexpected public spat played out on X (formerly Twitter).
Garlinghouse’s Public Accusation
Garlinghouse was in Washington D.C. to lobby for crypto legislation, including the GENIUS Act on stablecoins. He used X to express his frustration at the cancelled meeting, challenging Senator Lummis to a public debate. He emphasized his commitment to making the US a global leader in crypto, echoing a goal of the Trump administration.
Senator Lummis’s Perspective
Senator Lummis’s office confirmed the cancellation, explaining that she was focused on Senate floor action regarding the stablecoin bill. This bill had just passed a procedural vote and was moving into a lengthy amendment process. Senator Lummis, known for her pro-Bitcoin stance, chairs the Senate Banking Committee’s Subcommittee on Digital Assets. She’s previously advocated for a “Strategic Bitcoin Reserve.”
A Deepening Divide: Bitcoin vs. Multichain
The clash highlights a fundamental disagreement. Garlinghouse advocates for a “multichain” approach to US crypto policy, encompassing various cryptocurrencies. Senator Lummis, however, is a strong proponent of Bitcoin, often seen as a “Bitcoin maximalist.”
Reactions from the Crypto Community
The cancellation sparked strong reactions within the crypto community. Bitcoin supporters praised Lummis’s actions, viewing Garlinghouse as a negative influence due to his support for central bank digital currencies (CBDCs) and his perceived opposition to Bitcoin. Conversely, Ripple supporters criticized Lummis, arguing her Bitcoin-centric approach harms the broader crypto ecosystem. Some suggested the cancellation was due to staff interference, not necessarily Senator Lummis herself.
The Price of XRP
At the time of the incident, XRP, Ripple’s cryptocurrency, was trading at $2.39.
