During the 2024-2025 U.S. political cycle, Ripple and its executives have become the core driver of political influence in the crypto industry through large-scale political donations and lobbying activities. Its motives not only involve corporate survival interests, but also reflect the deep game between the encryption industry and the traditional regulatory system. The following analyzes the strategic logic and industry background of Ripple’s political donations from multiple perspectives.

1. Coping with regulatory pressure: alleviating SEC litigation and policy uncertainty

Since 2020, Ripple’s lawsuit with the U.S. Securities and Exchange Commission (SEC) has been pending for a long time, and the dispute over XRP’s legal status has directly affected its market performance and business expansion. In order to change this situation, Ripple regards political donations as “the key to breaking the situation”:

1. Promoting Crypto-Friendly Legislation: Ripple donated tens of millions of dollars to bipartisan candidates and super PACs (like Fairshake PAC) to support politicians advocating for relaxed crypto regulations. For example, in 2024, Ripple co-founder Chris Larsen donated $12 million to the campaign team of Democratic candidate Kamala Harris, believing her government would end the 'regulatory inaction' of the Biden era, while Ripple also donated 5 million XRP to Trump's camp to ensure policy continuity between the two parties.

2. Undermining the SEC's Authority: Trump promised to replace SEC Chairman Gary Gensler upon taking office and to terminate the 'Operation Choke Point 2.0' against crypto companies, which aligns closely with Ripple's strategy. By supporting Trump and his allies, Ripple aims to weaken the SEC's enforcement efforts and pave the way for XRP's compliance.

2. Economic Interests Driven: Enhancing XRP Valuation and Market Liquidity

Ripple's political investments are directly linked to the economic value of its token, XRP, creating a closed loop of 'Funds-Policy-Market':

1. Pushing for XRP ETF Approval: Ripple applied pressure on regulatory agencies through lobbying and donations to facilitate the U.S. approval of the XRP ETF. For instance, in 2025, European asset management firm CoinShares submitted an XRP ETF application; although the short-term market reaction was negative, in the long run, approval of the ETF would significantly increase institutional acceptance of XRP.

2. Market Confidence and Price Manipulation: Policy benefits brought by political donations directly stimulate XRP prices. After the 2024 election, the price of XRP soared from $0.5 to over $2, with a market capitalization increase of $88 billion. Ripple executives publicly acknowledged that political strategy is a key tool for managing its market value.

3. Industry Leadership: Building a Crypto 'Political-Business' Alliance

Ripple's donation behavior is not only a corporate action but also represents a collective action of the crypto industry to compete for discourse power:

1. Political Awakening in the Crypto Industry: In 2024, crypto companies collectively invested $119 million in political funding, accounting for 48% of total corporate donations, with Ripple and Coinbase contributing about $50 million each. These funds, through organizations like Fairshake PAC, successfully helped 85% of crypto-friendly candidates win, forming 'lobbying barriers' in policy-making.

2. Ties to the Trump Administration's Interests: Ripple executives have close personal ties with Trump, such as attending a private dinner with him in January 2025 and supporting his 'Bitcoin Strategic Reserve' plan. After Trump issued his personal meme coin, TRUMP, Ripple's XRP was also seen as part of the 'America First' crypto strategy, further solidifying its position in the industry.

Although Ripple's political investments have shown significant results, its actions also face potential risks:

1. Tax Compliance Challenges: The IRS requires capital gains tax on cryptocurrency transactions. If Ripple avoids cash donation limits through XRP donations, it may face tax scrutiny. Similar issues have arisen in the controversy surrounding Trump's TRUMP coin issuance.

2. Allegations of Indirect Corruption: The act of Ripple donating to both parties has been criticized as 'political speculation', and the anonymity of crypto donations may conceal interest transfers. For example, Trump's team has been questioned for indirectly collecting political funds through meme coins, and similar operations by Ripple could trigger legal risks.

5. Long-term Impact: The Paradigm Restructuring between the Crypto Industry and Traditional Politics

Ripple's political strategy reveals its ambition to reshape the power structure of crypto capital:

1. Competition for Currency Issuance Rights: By supporting Trump's 'Cryptocurrency Strategic Reserve', Ripple attempts to embed XRP into the dollar hegemony system, countering the trend of 'de-dollarization' of traditional fiat currency.

2. Reshaping the Regulatory Framework: Ripple's push for relaxed regulatory policies could accelerate the transition of Web3 from 'chaos' to 'order', such as the combination of DAO governance and the off-chain real economy, as well as the exploration of compliance in Ce-DeFi (Centralized-Decentralized Finance).

Conclusion: Political Donations as a 'New Leverage' for Crypto Companies

Ripple's political donations are essentially a tool for the crypto industry to engage with the traditional power structure. Its motivations encompass short-term interests (alleviating lawsuits, boosting coin prices) and long-term strategies (industry compliance, competition for currency rights). However, this model's heavy reliance on political lobbying also poses risks: should the policy direction reverse or regulatory agencies strengthen scrutiny, crypto companies may face harsher backlash. In the future, balancing innovation, compliance, and political risks will be the core challenge for Ripple and the entire industry.

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