Bill Morgan dismissed rumors circulating about the possible seizure of $XRP escrow by the US government for his national reserve.
Speculations are rife about the possible inclusion of XRP tokens by the US government in its national treasury, as well as the potential seizure of Ripple's XRP escrow. However, Bill Morgan, Ripple's lawyer, denied the rumors and put cold water on the speculations.
Is the US government? Planning to take over Ripple's XRP escrow?
In a recent development, multiple sources have cited growing rumors about the US government's possible acquisition of Ripple's $XRP escrow for the National Reserve. Social media influencers such as John Square have hinted at the country's possible move as part of its crypto-reserve strategy.
However, XRP attorney Bill Morgan apparently shut down the rumors with a straightforward claim, "No, it won't." Morgan effectively denied any government plans to seize Ripple's XRP escrow, leaving no room for further speculation.
Other prominent voices on X, such as Pumpius, have also referenced rumors of the US government's XRP initiative. He added that while the idea of the US seizing XRP escrow seems unlikely, it could still happen.
Pumpius drew parallels with Bitcoin ETFs, which were once thought unlikely but eventually became a reality, showing that unexpected developments can and do happen. He said, "US officials are exploring whether Ripple's XRP escrow can be repurposed as part of the US national treasury. Too far? The same way Bitcoin ETFs once did."
Notably, these speculations come after Ripple released 1 billion XRP from escrow, According to reports, the tokens were unlocked in three transactions: 500 million, 300 million, and 200 million XRP, which is worth more than $2.2 billion based on XRP's current market value.
Rumor: The Federal Reserve uses XRP for payments.
Meanwhile, there are also speculations that the Federal Reserve is using XRP to make payments through its FedNow instant payment system. An X user posted a message discussing the Fed's $XRP payment,
"Not Tested, Not Rumored, 100% Verified."
While Volante Technologies, a partner in the FedNow pilot program, has incorporated Ripple's blockchain for cross-border payments, there is no official word that the Federal Reserve is using XRP for all transactions.
United States Crypto Reserve Strategy
Rumors circulating about the US government seizing Ripple’s XRP escrow are gaining momentum, especially in light of the government’s strategic crypto reserve plans. After introducing the Strategic Bitcoin Reserve proposal,
President Donald Trump revealed possible plans to include altcoins such as XRP, SOL, and ADA.
Importantly, the settlement of the XRP lawsuit is nearing its conclusion, raising hopes within the community that the token could be included in the US reserve. Clarification of XRP's regulatory status is fueling speculation about its possible inclusion.
While Ripple's technology is gaining traction in serious infrastructure, especially with its integration into cross-border payment systems, claims about US reserves and the Fed remain unverified. Such statements about XRP require solid evidence.