In March 2025, President Donald Trump shocked the world with his announcement of the establishment of a 'strategic cryptocurrency reserve' in the United States, an initiative that would include cryptocurrencies such as XRP, Solana, Cardano, and others. This shift represents a significant change in the president's stance on cryptocurrencies, which he had previously expressed some skepticism about.
However, this announcement may have been influenced by a key figure in Washington's political circles, lobbyist Brian Ballard.
Trump and the announcement of XRP in the U.S. cryptocurrency reserve
According to reports from various sources close to the White House, citing Politico, what initially appeared to be a governmental policy statement in favor of cryptocurrencies may have been the result of external pressures, specifically from Ripple Labs, the company behind XRP.
Brian Ballard is one of the most influential lobbyists in Washington, known for his close ties with former President Trump.
Throughout his career, Ballard has been a key figure in American politics, especially within the Republican establishment. His political lobbying firm, Ballard Partners, has been involved in a number of strategic deals with major companies and interests in Washington.
Among his clients are giants like JPMorgan, Chevron, and Netflix. However, in March 2025, his relationship with Trump took a significant hit due to the association with Ripple Labs.
Pressure in Mar-a-Lago?
Reports indicate that a member of Ballard's company pressured Trump during an event at Mar-a-Lago, suggesting he promote cryptocurrencies.
Instead of issuing a public statement, the person delivered a pre-written message that directly referred to the creation of a 'strategic reserve for cryptocurrencies' and specifically mentioned XRP as one of the main assets.
It appears that Trump, who seemed unaware of the direct connection between Ripple Labs and Ballard, published the message on his Truth Social account. This event sparked an immediate reaction in circles close to the president.
The controversy arose when Trump realized that one of the companies mentioned in the message, Ripple Labs, was a client of Ballard, making him uncomfortable.
He is said to have privately told his staff: 'They don't want him around anymore,' referring to Ballard. This led to the exclusion of this man from the president's inner circle.
Furthermore, instructions were issued from that point on for White House staff not to meet with Ballard, a dramatic shift for someone who was considered one of Trump's most influential allies in Washington.
Reactions in the cryptocurrency industry
Trump's announcement regarding the U.S. strategic reserve for cryptocurrencies caused an immediate stir in the cryptocurrency industry.
References to XRP, Solana, and Cardano, cryptocurrencies that have not always enjoyed the same reputation as Bitcoin, stirred excitement and skepticism at the same time.
The price of XRP, in particular, rose after the announcement. This led some to question Ripple Labs' influence on such decisions.
While some see this announcement as a positive step towards legitimizing cryptocurrencies in the U.S. financial system, others fear that such actions may be the result of undue pressure from external entities with business interests.
Industry experts noted that the inclusion of cryptocurrencies like Solana and Cardano, which were not previously supported by government policies, may have been a strategic move by Ripple and its allies to increase the visibility of its token, XRP.
Additional criticism arose over the omission of Bitcoin, the most famous cryptocurrency with the largest market cap, in Trump's announcement.
Some blockchain experts suggested that the inclusion of XRP and other altcoins may be an attempt to diversify attention away from the main cryptocurrency, while others argued that the focus on altcoins could be an effort to diversify within the cryptocurrency reserve.
President Trump denied one of the prominent lobbyists promoting Ripple's XRP. The strategic reserve allows for the purchase and storage of Bitcoin only, while only selling and storing cryptocurrency reserves is permitted. The exploitation of Bitcoin has significantly increased, as Pierre Rochard, CEO of Bitcoin Bond, explained on platform X (formerly Twitter).
A calculated plan or mere coincidence?
The incident raised many questions about the transparency of the creation of the strategic reserve for cryptocurrencies.
While some experts suggest that Trump may have simply been a victim of misunderstanding or unfortunate coincidence, the rapid market response and the immediate actions taken by the White House to distance itself from Ballard and Ripple Labs made it clear that this event has broader political implications.
Trump's yielding to the pressure of his allies in this matter sparked a debate about the influence of lobbyists and tech companies in American politics.
While the decision to include XRP in the strategic cryptocurrency reserve may have been well-intentioned, many wonder if this action was driven by personal or business interests, rather than a comprehensive analysis of the benefits and risks of cryptocurrencies on the national economy.