U.S. President Manipulated Related to Ripple
President Donald Trump was influenced by a lobbyist linked to Ripple Labs, resulting in the announcement that the XRP Token would be part of the national cryptocurrency reserve plan. According to a Politico report on May 8, a staff member of lobbyist Brian Ballard presented Trump with a text to write a message on social media, announcing that the U.S. strategic cryptocurrency reserve includes XRP, Solana (SOL), and Cardano (ADA). After the post, Trump discovered that Ripple was a client of Ballard, causing outrage.
The Complex Relationship Between Trump and Ripple
Politico's terminology also reveals that Trump had connections with Ripple before announcing XRP. Ripple's legal director, Stuart Alderoty, contributed over $300,000 to political committees supporting Trump in the 2024 election. Ripple also contributed $5 million worth of XRP to Trump's inauguration fund and is a major donor to Fairshake, a political action committee (PAC) supporting 'pro-crypto' candidates.
Trump's Actions After the Post
After the post on March 2, Trump continued to proceed with the cryptocurrency reserve. He signed an executive order to establish a 'Digital Currency Vault' on March 6. The price of XRP did not react much to the report on May 8, remaining at $2.23, an increase of about 5% in the previous 24 hours.
Conclusion
Trump's recent moves raise many questions about conflicts of interest and insider trading in the cryptocurrency sector. These relationships and actions affect public perception of U.S. cryptocurrency policy.
Source: https://tintucbitcoin.com/trump-bi-lua-day-manh-xrp-lam-du-tru-tien-dien-tu/
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