Trump Allegedly Coerced into Promoting XRP for National Crypto Reserve
May 8, 2025 | Turner Wright
In a surprising turn of events, former President Donald Trump has reportedly been misled into endorsing the XRP token as part of a national cryptocurrency reserve. A recent report from Politico highlights that a staffer from a lobbying firm connected to Ripple Labs played a pivotal role in crafting a social media post that prompted the president’s unexpected announcement.
Lobbyist’s Influence Revealed
The incident unfolded in early March, when an employee of Brian Ballard, a pro-Trump lobbyist, suggested a message to Trump through his social media channel. The post, published on March 2, outlined plans for a strategic U.S. crypto reserve as a measure to bolster the nation’s digital asset holdings. The proposal touted XRP alongside other cryptocurrencies, including Solana (SOL) and Cardano (ADA).
After the announcement went live, Trump reportedly discovered that Ripple was a client of Ballard’s lobbying firm, leading to feelings of anger and betrayal. According to sources cited by Politico, Trump voiced his dissatisfaction, stating that Ballard was "not welcome in anything anymore."
Trump’s Past Connections with Ripple
Interestingly, Trump’s connections to Ripple date back further than the March announcement. Stuart Alderoty, Ripple’s Chief Legal Officer, had made significant financial contributions to Trump’s political initiatives, donating over $300,000 to various fundraising efforts and political action committees aligned with the former president’s 2024 election campaign. Both Alderoty and Ripple’s CEO, Brad Garlinghouse, met with Trump following his election victory in January 2021, attending several inaugural events.
Adding to this backdrop, Ripple also contributed $5 million in XRP to support Trump’s presidential inaugural fund and has emerged as a significant backer of Fairshake, a political action committee advocating for "pro-crypto" candidates in the upcoming 2026 midterms.
Impacts on Crypto Policy and XRP’s Market Performance
Just a few days after the controversial social media post, Trump took further action by signing an executive order to create a “Digital Asset Stockpile” on March 6, translating his social media suggestion into a formal policy initiative.
However, in terms of market reaction, XRP’s price appeared relatively unaffected by the May 8 report, remaining stable at approximately $2.23, marking a 5% increase in the preceding 24 hours.
Cointelegraph reached out to Ripple for comments regarding these developments but did not receive a response at the time of publication.
The situation raises questions about possible conflicts of interest and the implications of lobbying on cryptocurrency policies under the Trump administration, adding a layer of complexity to the evolving relationship between politics and digital assets.
As the discourse around cryptocurrency continues to develop, the fallout from this incident could have ramifications for future political endorsements and the regulatory landscape governing digital currencies in the United States.
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