Trump’s crypto Endorsement Sparks White House Drama
U.S. President Donald Trump’s endorsement of certain cryptocurrencies led to internal strife. In a Truth Social post, he praised Ripple (XRP), Solana (SOL), and Cardano (ADA) as potential parts of a U.S. “crypto Strategic Reserve.” This move aimed to make the U.S. the “Crypto Capital of the World.”
Though, the post’s authorship caused the trouble. A Ripple-linked lobbyist drafted the message, unbeknownst to trump. The lobbyist, connected to Ballard Partners, handed Trump the draft during a Mar-a-Lago event.Trump, sparking controversy.
trump’s team later discovered the lobbyist’s ties to Ripple.This revelation angered Trump, leading to the lobbyist’s removal and strained relations with Ballard Partners. Ripple, a key player in the XRP ecosystem, has faced legal and regulatory challenges. The timing of the post, which caused price spikes in XRP, SOL, and ADA, raised suspicions of market manipulation.
Ballard Partners,led by Trump ally Brian Ballard,has significant influence in Washington. The firm earned $14 million in Q1 2025. following the incident, Ballard was barred from White House meetings. Ballard denied leveraging his relationship with Trump for business, calling the accusations false.
While Trump later clarified that Bitcoin (BTC) and ethereum (ETH) would also be part of the reserve, the damage was done. The incident highlights the risks of political endorsements in the crypto space. The White House and Ripple have not commented on the matter.
- Trump’s crypto endorsement caused internal conflict.
- A Ripple-linked lobbyist drafted the message.
- trump ordered ties with the lobbyist.
- Ballard Partners has significant influence in washington.
- The incident highlights the risks of political endorsements in the crypto space.
