Ripple CEO Brad Garlinghouse was left reeling on May 19, 2025, after his highly anticipated meeting with Sen. Cynthia Lummis, chair of the Digital Assets Subcommittee, was unexpectedly called off. The sudden cancellation sent shockwaves through the Crypto community, sparking a flurry of speculation and rumors. Many in the industry pointed fingers at Lummis’ son-in-law, Will Cole, a vocal Bitcoin maximalist known for his anti-Ripple views, as a possible influence behind the last-minute snub, reigniting concerns and spreading fresh waves of XRP fear, uncertainty, and doubt (FUD).
Coincidentally, the canceled meeting coincided with reports of behind-the-scenes negotiations between Ripple and Circle, with Ripple allegedly attempting to acquire the stablecoin issuer. Coinbase, another interested party in acquiring Circle, is believed to have a better rapport with Lummis, according to industry observers.
Critics of Ripple have long accused the company of using XRP sales to generate revenue, with some suggesting that the potential acquisition of Circle is merely a ploy to offload XRP coins in exchange for fiat currency. Ripple, founded by Jed McCaleb and Chris Larsen, has been at the center of controversy due to its centralized control over XRP, a cryptocurrency designed for integration into the traditional banking system.
The real reason behind the meeting cancellation remains shrouded in mystery, with some speculating that political tensions surrounding the Genius Act, a bill aimed at regulating stablecoins, may have played a role. The bill, which was blocked by Senate Democrats, had been a focal point of discussions in the weeks leading up to the canceled meeting.
Garlinghouse, a staunch advocate for sensible pro-crypto legislation, expressed his disappointment over the canceled meeting on social media, hinting at a possible rift between himself and Lummis.
The alleged influence of Will Cole, Lummis’ son-in-law and a vocal Bitcoin proponent, has also come under scrutiny in the aftermath of the meeting cancellation. Cole’s anti-Ripple sentiments, as evidenced by his social media activity, have raised suspicions among Ripple supporters, who have accused him of swaying Lummis against meeting with Garlinghouse.
Meanwhile, Ripple co-founder Chris Larsen’s past donation of $10 million worth of XRP to Kamala Harris has drawn criticism from Bitcoin purists like Pierre Rochard, who view the donation as a strategic move to gain political favor. The ongoing legal challenges faced by Ripple, including a recent setback in its SEC settlement bid, have added to the company’s woes in 2025.
As Ripple navigates choppy legal waters and political tensions, the future remains uncertain for the embattled cryptocurrency giant. Only time will tell how the company will weather the storm and emerge stronger in the ever-evolving landscape of the crypto industry.