Ripple, Coinbase and others meet Democrats as crypto ETF approvals stall amid US shutdown and $850B crypto market drop.
Executives from leading crypto firms, including Ripple and Coinbase, are set to meet with pro-crypto Senate Democrats this week.
The meeting comes as delays in crypto ETF approvals and the ongoing U.S. government shutdown weigh on investor sentiment. The roundtable discussion is expected to focus on crypto regulation, DeFi policies, and market structure frameworks.
Top Executives to Attend Policy Roundtable With Democrats
According to an October 20 report by Crypto In America host Eleanor Terrett, several high-profile crypto executives will participate in a closed-door roundtable. The meeting will be led by Senator Kirsten Gillibrand and will include participants from Ripple, Coinbase, Chainlink, Galaxy, Kraken, Uniswap, and Circle.
🚨SCOOP: These crypto C-suites are expected to attend a roundtable with pro-crypto Senate Democrats on Wednesday to discuss market structure legislation and the path forward:
📌Coinbase CEO @brian_armstrong
📌Chainlink CEO @SergeyNazarov
📌Galaxy CEO @novogratz
📌Kraken CEO…— Eleanor Terrett (@EleanorTerrett) October 20, 2025
Confirmed attendees include Coinbase CEO Brian Armstrong, Chainlink co-founder Sergey Nazarov, Galaxy CEO Mike Novogratz, Kraken CEO Dave Ripley, and Uniswap founder Hayden Adams. Legal and policy heads from Ripple, Solana, Circle, and a16z crypto will also join the discussion.
The meeting follows backlash over a leaked Democratic proposal on DeFi regulations.
Some industry leaders, including Armstrong and attorney Jake Chervinsky, argued the proposed rules could restrict crypto innovation. The session will address the need for balanced regulatory measures while discussing legislation on decentralized finance and crypto markets.
Crypto ETF Delays Prompt Urgency Among Lawmakers
The roundtable occurs during a period of delay in several crypto ETF decisions.
The U.S. SEC has missed deadlines for rulings on ETFs related to Litecoin, Solana, and XRP, among others. These delays follow the continuation of the government shutdown, now into its fourth week.
ETF issuers are now working to update their filings to meet the SEC’s Generic Listing Standards.
The Commission has asked some firms to withdraw and revise their 19b-4 forms. This regulatory uncertainty adds pressure to lawmakers and industry leaders to create a clearer framework for ETF approvals.
Lot of questions from clients and people on here because the @CanaryFunds Litecoin filing was technically due today under 19b-4. But as multiple people have reported (including @EleanorTerrett) it looks like SEC wants everyone to file under the new Generic listing standards for…
— James Seyffart (@JSeyff) October 2, 2025
Investors are watching closely as the SEC’s next actions could influence broader market behavior. As filings are resubmitted with revised language, clarity from the agency remains a key priority for the crypto sector.
Market Sentiment Weakens Amid Policy and Approval Delays
The cryptocurrency market has seen a sharp downturn in recent weeks.
Over $850 billion in market value was lost, bringing the total market cap to $3.5 trillion. The Crypto Fear & Greed Index also fell quickly from greed to extreme fear, reflecting rising caution among retail and institutional traders.
The delayed ETF decisions, combined with policy uncertainty and the prolonged shutdown, have affected investor confidence. Stakeholders at the roundtable will discuss how these delays are influencing the market and what steps could restore momentum.
The upcoming talks may provide a pathway toward coordinated efforts between the cryptocurrency industry and lawmakers as they aim to resolve current legislative gridlock.
