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CLARITY Act Is Dead: XRP Lending Protocol 8 Votes Away & Binance Hack Overhang
Audio is available on Spreaker — see link below.
U.S. crypto legislation is finished for this Congress as the CLARITY Act expires with no Senate path, while the XRP Ledger's native lending protocol closes in on activation. Today's briefing unpacks the regulatory fallout, distorted wallet data from the Binance hack, and four new South Korean custody deals.
Audio is available on Spreaker — see link below.
The CLARITY Act is finished. Not stalled, not delayed.
The personnel losses make this worse than just a legislative setback. Bill Huizenga, vice chair of the House Financial Services Committee, lost his seat.
While the regulatory picture deteriorates in Washington, the XRP Ledger itself is moving. The XLS-66 Lending Protocol has now reached twenty-one of thirty-five validator votes, clearing sixty percent support.
The on-chain signals this week need careful reading. November first saw seven thousand nine hundred thirty-four new XRP wallets created, the sixth-highest single-day figure of twenty twenty-six.
One signal that does hold up is fee burn activity. Transaction fees burned one thousand eight hundred twenty-one XRP on November third, a six hundred twenty-seven percent increase from the October baseline and the highest monthly total so far.
The key variables from here are three. First, whether a Senate cloture attempt materializes before January third, and how seriously the crypto industry lobbies for it.
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