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Trump Feels Manipulated Over XRP Endorsement Orchestrated by Ripple-Linked Lobbyist
In March, former President Donald Trump surprised the crypto community by publicly endorsing XRP, Solana, and Cardano for a proposed US crypto reserve. According to a report by Crypto Briefing, this endorsement was not as spontaneous as it appeared. Politico revealed that the post, which was intended to signal Trump’s support for a “Crypto Strategic Reserve,” was orchestrated by an employee of Ballard Partners, a lobbying firm with ties to Ripple Labs, the company behind XRP.
The lobbyist, who was present at a donor event at Mar-a-Lago during the weekend the statement was released, reportedly encouraged Trump to publish a prewritten message. Crucially, the lobbyist did not fully disclose the connection to Ripple. Trump, believing he was making a broad statement in support of American crypto innovation, was reportedly “furious” and felt manipulated after learning that Ripple was a client of Ballard Partners.
Following the incident, Trump allegedly told aides that Brian Ballard, the founder of Ballard Partners and a longtime fundraiser, was “not welcome in anything anymore.” White House staff were instructed to freeze out Ballard, and some crypto companies have since raised concerns about the appearance of backchannel influence. Ballard, however, denied any wrongdoing and maintained that neither he nor his team misled the president. He emphasized the firm’s continued success, stating that Ballard Partners continues to deliver “results and effective advocacy” for clients.
| Ballard Partners Q1 2025 | Value |
|---|---|
| New Clients | 130 |
| Revenue | $14 million |
Despite the controversy, Ballard Partners gained 130 new clients and generated $14 million in revenue in the first quarter of 2025.
- Trump’s XRP endorsement was influenced by a Ripple-linked lobbyist from Ballard Partners.
- Trump felt manipulated and ordered a freeze-out of Ballard from White House activities.
- Ballard Partners reported 130 new clients and $14 million in Q1 2025 revenue.
Trump Signs Executive Order for Strategic Bitcoin Reserve and Digital Asset Stockpile
Days after the controversial post, President Trump signed an executive order to create a Strategic Bitcoin Reserve and a Digital Asset Stockpile. Both reserves are to be funded using crypto assets seized through federal criminal and civil asset forfeiture proceedings. Unlike the Bitcoin reserve, the government does not plan to actively acquire altcoins; only those obtained through forfeiture will be held. The Treasury Department is tasked with managing the digital asset stockpile and is authorized to sell assets as needed.
It remains unclear whether XRP will be included in the stockpile, as this depends on whether any federal agencies report their holdings to the Treasury Secretary by the recent disclosure deadline. The executive order does not require public release of submitted reports. In March, David Sacks, the White House’s crypto czar, clarified that Trump’s mention of XRP, Solana, and Cardano was based on their status as top-five crypto assets by market capitalization at the time.
- Trump signed an executive order for a Strategic Bitcoin Reserve and Digital Asset Stockpile, funded by seized crypto assets.
- Only forfeited altcoins will be held; active acquisition is not planned.
- Inclusion of XRP in the stockpile depends on agency disclosures to the Treasury Secretary.
- Trump’s mention of XRP, Solana, and Cardano was due to their market capitalization ranking.
Source: Crypto Briefing
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