In an unexpected twist in the world of cryptocurrency and politics, former U.S. President Donald Trump found himself at the center of a digital asset debacle. On March 2, Trump made headlines by announcing a national cryptocurrency reserve that would include XRP, Solana (SOL), and Cardano (ADA) via his social media platform. However, a May 8 report from Politico revealed the announcement might have been more of a strategic manipulation than a well-thought-out policy move.
The Ripple Effect
The revelation, which surfaced just yesterday, alleges that Trump’s announcement was orchestrated by Brian Ballard, a lobbyist with connections to Ripple Labs. According to insiders, an employee tied to Ballard provided Trump with the text for the post, recommending he announce the inclusion of XRP in a U.S. strategic crypto reserve. Trump’s subsequent discovery of Ballard’s ties to Ripple reportedly left him feeling exploited, with sources quoting Trump as declaring, “He is not welcome in anything anymore.”
This revelation sheds light on Trump’s longstanding connections to Ripple. Notably, Ripple’s chief legal officer, Stuart Alderoty, contributed over $300,000 to Trump’s fundraising efforts during the 2024 election cycle. Both Alderoty and Ripple CEO Brad Garlinghouse were reportedly in Trump’s orbit, having met with him prior to his inauguration. Ripple’s influence didn’t end there—it also donated $5 million worth of XRP to Trump’s inaugural fund and has been a significant supporter of Fairshake, a PAC promoting pro-crypto candidates.
Market Response and Political Ramifications
Despite the drama surrounding Trump’s endorsement of XRP, the token’s market price remained relatively stable, trading at $2.23 as of May 8—a 5% uptick over the past day. Analysts suggest that the market’s muted response indicates a level of maturity among investors, who may be focusing more on the token’s fundamentals than political machinations.
Crypto analyst Jane Doe commented, “The crypto community has become increasingly resilient to political noise. What really matters is the technology and adoption rates, not who’s tweeting about it.”
Meanwhile, the political implications of this episode are more complex. Trump’s decision to include XRP, SOL, and ADA in the proposed reserve—and his subsequent signing of an executive order to create a “Digital Asset Stockpile” on March 6—could signal an evolving stance on cryptocurrency within the Republican party. This aligns with recent statements from Trump’s Crypto Sherpa Bo Hines, who indicated that crypto legislation is on target for quick completion. However, the incident also raises questions about the influence of lobbyists and the transparency of policy-making processes.
A Look Towards the Future
The unfolding saga between Trump, Ripple, and the broader cryptocurrency landscape leaves several unanswered questions. Will Trump’s crypto ventures face further scrutiny, particularly concerning potential conflicts of interest or insider trading allegations? And how will this affect the political discourse around digital assets as the 2026 midterm elections approach?
For now, the focus shifts to how Ripple and other stakeholders will navigate these choppy political waters. As the crypto market continues to grow and evolve, the intersection of politics and digital currency remains a space to watch closely. The implications of such high-profile endorsements—whether orchestrated or genuine—could echo across both the financial markets and the corridors of power. Notably, World Liberty’s Stablecoin is set to play a role in significant investments, highlighting the growing influence of digital currencies in major financial deals.
In the months ahead, it will be interesting to see how Trump’s actions, both past and forthcoming, shape the narrative around cryptocurrency in the United States. As always, the only certainty in the crypto world is change, and as this story demonstrates, even the most powerful figures aren’t immune to its unpredictable tides.
Source
This article is based on: Trump tricked into pushing XRP for crypto reserve: Report
Further Reading
Deepen your understanding with these related articles:
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Steve Gregory is a lawyer in the United States who specializes in licensing for cryptocurrency companies and products. Steve began his career as an attorney in 2015 but made the switch to working in cryptocurrency full time shortly after joining the original team at Gemini Trust Company, an early cryptocurrency exchange based in New York City. Steve then joined CEX.io and was able to launch their regulated US-based cryptocurrency. Steve then went on to become the CEO at currency.com when he ran for four years and was able to lead currency.com to being fully acquired in 2025.
