Trump Endorses XRP on Truth Social After Influence – Report

Former U.S. President Donald Trump was reportedly influenced by a lobbyist connected to Ripple Labs, which led him to highlight the company in a post on his Truth Social platform advocating for a “Crypto Strategic Reserve.” This move by Trump came in early March, where he publicly expressed support for the digital asset industry, including various cryptocurrencies like Ripple (XRP), Solana (SOL), and Cardano (ADA). The report by Politico suggests that the post was influenced by a lobbyist from Ballard Partners, a firm headed by Brian Ballard, a well-known GOP figure. The lobbyist allegedly had multiple interactions with Trump, encouraging him to publicly endorse cryptocurrencies and even providing him with draft content for his Truth Social post.

After the Truth Social post went live, it was uncovered that Ripple Labs, the company behind XRP, was a client of Ballard Partners. This revelation reportedly angered Trump, who felt deceived and manipulated. As per inside sources, Trump expressed his displeasure at being used and stated that Ballard was no longer welcome in his circles.

Following this incident, White House staff were instructed to avoid engagements with Ballard, effectively isolating the lobbyist and limiting his access to the West Wing. The situation escalated further when some White House officials accused Ballard of exploiting his association with the President for personal gain. They highlighted the importance of avoiding any impression of trading on Trump’s name for personal benefit.

Ballard, on the other hand, refuted these allegations, denying claims of leveraging his connections within the White House to attract clients. He also dismissed suggestions of being sidelined from the administration. Despite the backlash, Ballard’s clients continued to have access to high-ranking officials within the Trump administration, further implying the complexity of the situation.

Despite the turmoil, Ballard remained resilient, asserting that his firm would uphold its commitment to effective advocacy and results for its clients. He emphasized the longstanding track record of Ballard Partners in navigating the political landscape over the past 25 years.

In conclusion, the fallout from Trump’s Truth Social post sheds light on the complexities of political lobbying and the fine line between leveraging connections and ethical conduct. The incident underscores the importance of transparency and integrity in political dealings, especially in high-profile environments like the White House. As the situation unfolds, it remains to be seen how the relationships between lobbyists, politicians, and the public sphere will continue to evolve and adapt in the ever-changing landscape of political influence and advocacy.