WASHINGTON, Jan 20, 2026, 06:13 EST
- Cardano founder Charles Hoskinson took aim at Ripple CEO Brad Garlinghouse for backing a draft U.S. crypto bill
- The Senate Banking Committee has halted progress on the bill following Coinbase’s withdrawal of support
- After Hoskinson’s interview, Santiment spotted a surge in Cardano buzz that quickly gave way to a price dip
Cardano founder Charles Hoskinson slammed Ripple CEO Brad Garlinghouse over the latest draft of the U.S. “CLARITY” crypto bill, urging the industry to “fight for what’s right” instead of settling for a bank-friendly compromise. Garlinghouse had praised lawmakers, calling the frameworks “workable” and insisting “clarity beats chaos.” Ripple has yet to comment on the criticism, Benzinga reported. 1
The Senate Banking Committee has postponed its planned “markup” — the session to debate and vote on bill amendments — following Coinbase CEO Brian Armstrong’s statement that his company cannot back the current version. Armstrong declared, “We’d rather have no bill than a bad bill.” Committee chairman Tim Scott responded, saying “everyone remains at the table working in good faith.” 2
The draft aims to set clear boundaries in U.S. crypto regulation: defining when a token qualifies as a security or a commodity, and deciding which agency oversees the market. It also proposes stricter rules for dollar-pegged “stablecoins,” including caps on interest-like “rewards”—a hot-button issue that’s triggered strong lobbying from banks and fierce resistance from crypto groups. “What is threatening progress,” said Blockchain Association CEO Summer Mersinger, “is the relentless pressure campaign by the Big Banks.” 3
Santiment, a tracker of crypto market sentiment, reported that Hoskinson’s interview triggered a “massive spike” in bullish talk about Cardano’s ADA token—only for the price to drop right after. It’s the classic FOMO cycle: fear of missing out. The firm noted social media buzz surged heavily before the momentum reversed. 4
Hoskinson cast the dispute as bigger than just politics or procedure. For him, this bill battle boils down to whether decentralised finance, or DeFi — crypto services aiming to operate without traditional middlemen — gets squeezed by regulations designed to protect established players.
Garlinghouse has pushed a different angle, insisting that a practical federal framework beats ideological purity every time. Ripple and Cardano may represent opposite ends of the crypto spectrum, yet both are battling for the spotlight, developer interest, and institutional backing as Washington moves to impose clear legal guidelines on the industry.
Hoskinson has also taken aim at the White House. Earlier this month, he slammed the Trump administration’s crypto stance, calling the launch of “Trump Coin” a sign that “the extractiveness has now been institutionalized,” according to an excerpt from a CoinDesk TV interview. 5
The politics are complicated, even before factoring in industry disputes. The Senate bill still has to secure support from Democrats, some of whom worry the proposal falls short on stopping political figures from benefiting financially from crypto projects.
The bigger risk for crypto firms is the bill getting caught in the election calendar and fading away. Banks are pushing for stricter caps on stablecoin rewards—those yield-like payments tied to dollar-pegged tokens. Meanwhile, divisions between major crypto companies and key industry voices give lawmakers an excuse to drag their feet on the whole effort.
