Ripple Accused of Undermining U.S. Bitcoin Reserve Plans
- President Trump issued an executive order on crypto, omitting specific mention of Bitcoin.
- Ripple allegedly spent millions to influence the creation of a general digital asset reserve instead of a Bitcoin-specific one.
- The crypto industry previously invested $300 million in political strategies, with Ripple contributing $5 million to Trump’s inauguration.
- Ripple CEO Brad Garlinghouse advocates for a “crypto strategic reserve” inclusive of various tokens like XRP.
- Senator Cynthia Lummis warns that internal crypto industry conflicts could hinder government collaboration.
The omission of Bitcoin from President Trump’s executive order on crypto has sparked accusations against Ripple for lobbying efforts to broaden the scope to include other digital assets like XRP. This has led to tensions within the crypto community and concerns about potential impacts on government relations.
Source (2.6)https://decrypt.co/303219/ripple-undermining-strategic-bitcoin-reserve-whats-going-on?rand=52368
