Summary
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Reports suggest former President Trump was deceptively guided by a lobbyist connected to Ripple Labs into announcing XRP as part of a proposed national crypto reserve through a pre-written social media post.
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Upon discovering the lobbyist’s firm represented Ripple, Trump was reportedly infuriated and felt exploited, despite prior significant financial contributions and engagement between Ripple executives and his campaign.
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Days after the controversial social media post, Trump signed an executive order to create a “Digital Asset Stockpile,” while the subsequent report detailing these alleged manipulations had no significant impact on XRP’s price, and Ripple provided no comment.
Origins of Pro-XRP Social Media Post Questioned
A report suggests that a March social media communication detailing then-President Trump’s intentions for a national strategic cryptocurrency reserve was actually supplied by an individual connected to a lobbying firm with ties to Ripple Labs.
Lobbyist Influence Alleged in Crypto Reserve Announcement
It is now alleged that U.S. President Donald Trump was subtly steered by a lobbyist linked with Ripple Labs into publicizing the XRP token as a component of his proposed federal cryptocurrency reserve.
According to information published by Politico on May 8, an operative from the pro-Trump lobbying firm headed by Brian Ballard reportedly furnished the then-president with the specific wording for a social media post.
This suggested announcement detailed a U.S. strategic crypto reserve that would encompass XRP, along with other digital assets such as Solana and Cardano.
Trump’s Reported Reaction to Undisclosed Lobbying Ties
Subsequent to his social media platform carrying this message on March 2, Trump reportedly discovered that Ripple was among Ballard’s clients.
This realization is said to have greatly angered the former president, who perceived that he had been exploited in the situation, as detailed by Politico, which cited two sources familiar with the events.
The report quotes Trump as saying of Ballard, “He is not welcome in anything anymore.”
Prior Connections Between Trump Associates and Ripple Leadership
Interestingly, Trump’s associations with Ripple predate this controversial crypto reserve announcement.
Stuart Alderoty, Ripple’s chief legal officer, had contributed more than $300,000 to fundraising bodies and political action committees that were supporting Trump’s 2024 election endeavors.
Both Alderoty and Ripple’s CEO, Brad Garlinghouse, had also met with Trump during his president-elect phase in January and attended inaugural functions.
Ripple’s Wider Financial Support and PAC Contributions
Furthermore, Ripple made a contribution of XRP valued at $5 million to Trump’s presidential inaugural fund.
The company has also been a significant financial supporter of Fairshake, a political action committee (PAC) that directs funds through media acquisitions to back candidates it views as favorable to the cryptocurrency sector.
A Fairshake representative stated in January that the PAC would persist with its support efforts into the 2026 midterm election cycle.
Progression Towards “Digital Asset Stockpile” Despite Controversy
Despite the controversy, it appears Trump advanced the concept of a crypto reserve shortly after the initial social media post.
The former president often utilized his social media channels to signal policy intentions prior to formal White House announcements.
Indeed, on March 6—approximately four days following the contentious post (which was reportedly still visible at the time of the Politico report)—Trump signed an executive order aimed at creating a “Digital Asset Stockpile.”
XRP Market Unaffected by Report; Ripple Remains Silent
The market valuation of XRP did not seem to show any significant fluctuation in response to the May 8 report.
At the time of this article, XRP was trading at $2.23, marking a roughly 5% increase within the previous 24-hour period.
Cointelegraph’s attempts to obtain a comment from a Ripple spokesperson regarding these matters were reportedly unanswered at their time of publication.
Also Read: Texas Pioneers First Bitcoin Reserve Bill
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