Garlinghouse Turns 11 at Ripple, Says CLARITY Act Window is 'Open'—Just Don't Check the 30% Odds

Brad Garlinghouse marked his 11th anniversary at Ripple this week with a day in Washington that left him more optimistic than a DAO voting "yes" on its own token issuance. After meetings with Senators Hagerty, Bernie Moreno, Tim Scott, John Boozman, and Patrick Witt, and an appearance at the Semafor World Economic Summit, the Ripple CEO emerged with a clear message for the crypto industry: the window for the CLARITY Act is open, and now is the moment to act—preferably before Congress remembers it has other things to do.

"After a day in DC having great conversations, I know we are closer than ever," Garlinghouse wrote, reflecting on a journey that began when he joined Ripple in 2014 with no idea the company would still be fighting for regulatory clarity more than a decade later. "The fight has been worth it." Eleven years of regulatory battles apparently builds character, or at least a very thick skin for hostile SEC tweets.

The CLARITY Act is the most significant piece of crypto market structure legislation currently moving through the U.S. Senate. It is designed to establish clear rules around when a digital asset is a security versus a commodity, a distinction that has left the entire industry operating in a grey zone for years and handed regulators the power to pursue enforcement actions rather than write rules. Think of it as the industry desperately seeking a map through a minefield where the mines occasionally tweet.

Senator Hagerty, one of the bill's key champions and one of the senators Garlinghouse met with this week, said last week that he believed the bill could clear the Banking Committee during the current work period and reach the full Senate floor before the end of April. However, as of now there is no confirmed markup session scheduled for the Senate Banking Committee next week, which could hint the April end-of-month target is plausible rather than guaranteed. The next realistic window, according to those tracking the bill closely, is the week of April 27—assuming Congress doesn't discover a pressing need to rename post offices.

Ron Hammond, Head of Policy at market maker Wintermute, puts the odds of the CLARITY Act passing in 2026 at just 30%, citing political friction, stalled negotiations, and shifting timelines as reasons the bill faces long odds despite strong industry support. If the bill stalls into summer, senators begin shifting attention toward midterm election positioning, and legislation that lacks broad bipartisan urgency tends to get shelved in favour of issues with more obvious voter appeal. Apparently, crypto regulation is competing with kitchen table issues for congressional attention, which is like a DeFi protocol trying to get TV