On March 2, 2025, former President Donald Trump took to social media to announce plans for a U.S. strategic cryptocurrency reserve, which notably included the XRP token, alongside Solana (SOL) and Cardano (ADA). However, recent reports suggest this announcement may have been orchestrated by lobbying efforts tied to Ripple Labs, raising questions about the influence of private interests in political decisions.
According to a May 8 article from Politico, a lobbyist connected to Trump, Brian Ballard, played a crucial role in directing the president’s messaging. An employee of Ballard’s crafted the text for Trump’s social media post promoting the idea of a cryptocurrency reserve, only for the president to later discover Ripple’s association with the lobbyist. This revelation reportedly left Trump feeling manipulated and used.
“He is not welcome in anything anymore,” Trump is quoted as saying about Ballard, illustrating his dissatisfaction with the situation.
Trump’s connections to Ripple predate this announcement. Notably, the blockchain firm’s chief legal officer, Stuart Alderoty, has been a significant financial supporter of Trump’s political ventures, contributing over $300,000 to pro-Trump fundraising efforts. Furthermore, Alderoty and Ripple CEO Brad Garlinghouse engaged with Trump during his transition to the presidency, reinforcing the closeness of their ties.
In addition to these contributions, Ripple also gifted $5 million worth of XRP to Trump’s inaugural fund, underlining the company’s commitment to fostering a climate favorable for cryptocurrency. Their political action committee, Fairshake, has actively supported pro-crypto candidates and intends to maintain its influence in upcoming elections.
Advancing the Crypto Agenda
Following his announcement, Trump quickly moved to formalize his commitment to cryptocurrency by signing an executive order on March 6, 2025, aimed at establishing a “Digital Asset Stockpile.” This quick turnaround showcases how Trump often uses his social media platform to gauge public reaction to potential policies.
Despite the controversy surrounding the announcement, XRP’s market response appeared muted. At the time of publication, XRP was priced at $2.23, up about 5% from the previous day, indicating that investor sentiment remained relatively stable despite the political fallout. A request for comment from Ripple went unanswered, highlighting the ongoing tension between politics and business in the fast-evolving cryptocurrency landscape.
As the situation unfolds, it will be crucial to monitor how these events affect the broader cryptocurrency market and the regulatory environment surrounding digital assets.
