Ripple CEO Calls GENIUS Act: Biggest Financial Plot Twist Since Dodd-Frank—You Won’t Believe Who’s Cheering!

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Hold onto your wallets, folks! The US Senate just hit “send” on a new email to the financial world. The inbox? The mighty GENIUS Act. Who’s spamming the “like” button? None other than Brad Garlinghouse, the top banana at Ripple Labs and the crypto man of a thousand GIFs. 🍌💸

Brad’s so excited, he’s calling this the first big-deal money law since Dodd-Frank—which, let’s face it, was so long ago, people were still using cash and Blockbuster cards. Crypto nerds everywhere are popping the digital champagne. 🍾🍾🍾

US Senate: “We Now Pronounce You, GENIUS”

On June 17, the US Senate Banking Committee said, “Let there be GENIUS!” (Can we get a choir for that next time?) So now, apparently there’ll be rules for stablecoins—no more crypto running around like headless chickens. Brad’s calling this a “truly historic moment,” which, in Senate terms, means they did something other than yell at each other on C-SPAN.

Brad rushed to X (formerly known as Twitter, now known as “precariously balanced meme bazaar”) to give Congress a virtual back rub. He gave a sweaty applause to Senators Tim Scott, Bill Hagerty, Kirsten Gillibrand, and every senator this side of the Mississippi for passing the bill. 🏛️

For YEARS, crypto companies have begged Congress for a law they could actually read without falling asleep. Finally: the first big-deal money bill since Dodd-Frank—the first crypto law to sneak its way through the Senate! Next: The House, and then Broadway, baby.
Thank…
— Brad Garlinghouse (@bgarlinghouse) June 17, 2025

The rest of the crypto universe is so thrilled, you’d think Bitcoin just hit $1 trillion again. An entire industry with regulation? It’s basically summer camp for lawyers. 😜

Gemini and Coinbase: “GENIUS, Baby, GENIUS!”

Coinbase and Gemini are throwing confetti in the Senate’s general direction—half celebration, half trying to distract regulators. Giants like Tyler Winklevoss (yes, the Facebook movie guy) practically wrote an ode to Senator Hagerty for championing “digital assets,” which sounds way cooler than “online tokens my cousin owns.” In Tyler’s words: “The GENIUS Act will make America #1 in crypto.” (Eat your heart out Switzerland!)

Meanwhile, Tyler’s giving out shoutouts on X to David Sacks, America’s unofficial “crypto czar”—a title he probably printed on business cards for himself.

Paul Grewal, the Chief Legal Eagle at Coinbase, didn’t miss a chance to applaud all 68 Senators who signed the bill. Presumably, he’s got a giant checklist on his wall and makes party hats out of the yeas and nays.

Stablecoin Goes International: Invasion of the Money Snatchers

Stablecoins are now the hipsters of global finance: everybody wants one because “they’re just easier, man.” Forget slow wires—now your grandma can use stablecoin to pay for her knitting supplies at 3AM. 🧶💰

Big shots like Amazon and Walmart might even start printing their own e-dollars. Imagine: “Would you like to use Amazon Bucks for this 12-pack of toilet paper?” We’re living in the future, people.

Governments everywhere are scrambling to write rules before things get weird. South Korea’s Min Seok is rolling out a bill that says, “Stablecoins? Fine, but let’s not make them TOO fun.” (It even has a licensing system, which, in government-speak, means “more paperwork.”)

Crypto has invaded the law books. Congress did something. Brad’s ecstatic, Tyler’s poetic, and somewhere, a US Senator is Googling “what is stablecoin?”

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2025-06-18 20:17