CLARITY Act Update for XRP Army: Elizabeth Warren Is Being Put In Check Since This Happened
Hunter Biden, son of former President Joe Biden, recently launched a memecoin, and Digital Perspectives pointed out that Warren would now have to go after Biden the same way she has been pursuing Trump.
She now faces a difficult choice. Go after Hunter Biden the same way she went after Trump’s crypto dealings, or stop blocking the CLARITY Act and let the rules do the work. The XRP community is watching closely.
Hunter Biden’s Memecoin
Hunter Biden launched $LAPTOP on September 9. The token crashed 90% within 30 minutes and is down over 99% from its peak. The founding team held 30% of the 1 billion token supply. Early investors took significant losses almost immediately.
Biden had positioned himself publicly as a crypto advocate. He called decentralized digital currency the “inevitable future.” Then his token launched and failed immediately.
The Community Turns on Warren
One market participant took a lighter angle, joking that Hunter Biden might actually be a Trump supporter at heart given the damage the launch caused to Democratic credibility on the crypto ethics argument.
The CLARITY Act Pressure Grows
Democrats have blocked or delayed the CLARITY Act by demanding stronger ethics provisions. Their argument centered on preventing officials from profiting while shaping crypto policy. $LAPTOP’s collapse put that argument under pressure.
The very lack of regulation Democrats cited as a reason to delay the bill created the environment for a launch like $LAPTOP. The White House agreed to include ethics provisions in the bill back in July. Many Democrats were dissatisfied with the amendment, and the bill remains on the Senate calendar with a procedural vote scheduled for September 15.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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