Trump Unease Over Ripple-Tied XRP Promotion Incident
What to Know:
- Ripple lobbying led to Trump’s unintended XRP promotion.
- Trump felt manipulated by Ripple-linked lobbyist.
- Incident intensified debates on crypto reserve diversity.
Brian Ballard, a long-time political lobbyist, was influential in persuading Trump to post about XRP. This has ties to Ripple Labs, a key company in the crypto landscape. Ripple has been advocating for XRP’s inclusion in a U.S. digital asset reserve.
Ripple Lobbying Yields Scrutiny After XRP’s $3 Surge
The controversy led to increased scrutiny of Ripple’s lobbying impacts, causing Trump’s relationship with Ballard to fray. XRP’s market value surged above $3, elevating debates about digital asset reserve compositions.
Brad Garlinghouse, CEO, Ripple Labs, said, “I have consistently called for a diversified U.S. digital asset reserve that includes XRP.”
Ripple’s SEC Case Parallels Historic Crypto Regulation Challenges
Ripple’s ongoing SEC lawsuit mirrors past legal tussles determining altcoins’ regulatory status. Market experts predict potential disruptions in asset dominance if multi-coin reserves are pursued, affecting Bitcoin’s established stature.
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