Trump-related cryptocurrency update: Post on Truth Social sparks debate over potential link to Ripple
In March 2025, a Stirring Controversy Unfolds
The political scene was ablaze as U.S. President Donald Trump took to Truth Social to endorse XRP, Solana, and Cardano, suggesting these digital assets as potential components of a U.S. "Crypto Strategic Reserve." The post, made in early March, declared that the administration would propel the U.S. to become the "Crypto Capital of the World" with such a move [1][3][4].
However, the euphoria was short-lived. Trump's endorsement turned into a headache when he discovered it was orchestrated, to a considerable extent, by a lobbyist with ties to Ripple Labs—the company behind XRP. This influential figure hailed from Ballard Partners, a firm known for representing high-profile clients like Ripple and others such as TikTok and BMW [1][3][4].
An anonymous source shared that during a donor event at Mar-a-Lago, a Ballard employee handed Trump a written message promoting the mentioned cryptocurrencies, urging him to publicize his support for the digital assets without full disclosure of the lobbyist's relationship with Ripple [1][3][4]. Trump, unaware of the affiliations, posted the message, later feeling deceived upon learning the truth [2].
A Fallout of Deception
Angered by the revelation, Trump allegedly ordered his team to sever ties with the now-disfavored lobbyist. "He is not welcome in anything anymore," one insider quoted Trump as saying [1]. The timing of the post and the subsequent price spikes in XRP, SOL, and ADA fueled suspicions of market manipulation or political opportunism [1][3][4].
Ballard Partners, founded by longtime Trump ally Brian Ballard, has had a significant presence in Washington since Trump's 2016 election. The firm reportedly grossed $14 million in lobbying revenue in the first quarter of 2025 [1]. Despite Ballard's pushback on the narrative, denying any use of his relationship with Trump for personal gain, some close to the president suggest the fallout was inevitable [1][3][4][5].
Following the incident, Ballard has reportedly been isolated from Trump's inner circle, with staff instructed to avoid meetings with the firm [1]. While Trump later clarified that Bitcoin and Ethereum would also be part of any strategic reserve, the damage had already been done [1]. Both the White House and Ripple remained tight-lipped on the matter.
[1] Politico
[2] Truth Social post: https://www.truthsocial.com/@realDonaldTrump/post/115720712130209189
[3] CNBC
[4] Reuters
[5] The Hill
Intriguingly, the alleged incident involving the Ripple-linked lobbyist and Trump's controversial crypto endorsement caused quite a stir and led to internal tension within the president's circle [1][3][4]. With additional questions being raised about the role of influential figures and their potential undisclosed ties, the scene remains charged and uncertain [1][3][4][5].
- The U.S. President Donald Trump's endorsement of XRP, Solana, and Cardano caused a political uproar, suggesting these digital assets for a potential U.S. "Crypto Strategic Reserve."
- Trump's endorsement was partially orchestrated by a lobbyist with ties to Ripple Labs, a company behind XRP, who was found to have handed him a written message promoting these cryptocurrencies.
- The president, unaware of the affiliations, posted the message, leading to suspicious price spikes in XRP, SOL, and ADA, fueling suspicions of market manipulation or political opportunism.
- Angered by the revelation, Trump allegedly ordered his team to sever ties with the now-disfavored lobbyist, stating, "He is not welcome in anything anymore."
- Despite Ballard Partners' pushback on the narrative, some close to the president suggest the fallout was inevitable, leading to Ballard's isolation from Trump's inner circle.
- In the aftermath, the general news, policy-and-legislation, and crime-and-justice sections of various media outlets, such as Politico, CNBC, Reuters, and The Hill, closely examined the incident and its potential implications.
- The controversies surrounding the Ripple-linked lobbyist and Trump's crypto endorsement have led to increased discussions about the role of influential figures, their potential undisclosed ties, and their impact on the crypto market.
- As a result, industry stakeholders and investors are looking towards central policy-making bodies to establish clearer guidelines and rules regarding Initial Coin Offerings (ICOs), decentralized exchanges (DEXs), and the broader crypto industry.
- Meanwhile, Trump later clarified that Bitcoin and Ethereum would also be part of any strategic reserve, but the damage had already been done, tarnishing the initial enthusiasm surrounding his crypto endorsement.
