Trump Misled by Lobbyist Over Crypto Endorsement, Ripple Connection Sparks Fallout
Donald Trump cuts ties with Ripple-linked lobbyist after controversial crypto post on XRP, SOL, and ADA triggers backlash and internal fallout.
In a controversial twist involving cryptocurrency and U.S. politics, former President Donald Trump was reportedly misinformed by a lobbyist with ties to Ripple Labs, leading to a now-deleted Truth Social post and internal tensions within his inner circle.
In early March, Trump shared a post on Truth Social proposing the creation of a U.S. "Crypto Strategic Reserve." The post specifically named XRP (Ripple), Solana (SOL), and Cardano (ADA) as potential assets to include, alongside a bold declaration to position the United States as the “Crypto Capital of the World.”
However, the excitement surrounding the post quickly soured when it was revealed that the message had been drafted by a lobbyist from Ballard Partners, a firm representing Ripple Labs, which is closely associated with XRP. Sources familiar with the situation told Politico that the draft was handed to Trump during a Mar-a-Lago donor event, where the lobbyist allegedly encouraged him to publish it.
Unaware of the lobbyist's connection to Ripple, Trump reportedly posted the message without fully understanding its origins or implications. Upon learning the truth, Trump was said to be “furious,” immediately distancing himself from the lobbyist and instructing his team to cut all ties. “He is not welcome in anything anymore,” a source quoted Trump as saying.
The incident raised questions not only about internal vetting processes but also about potential market influence, as XRP, SOL, and ADA experienced brief price surges following the post. Critics were quick to speculate whether the message was a case of market manipulation or political exploitation.
Although Ripple has often maintained that it does not control XRP, the company remains deeply intertwined with the cryptocurrency’s development and legal standing. Its ongoing legal battles with U.S. regulators have kept XRP in the spotlight for years.
Ballard Partners, headed by longtime Trump ally Brian Ballard, has long wielded influence in Washington, especially since Trump’s 2016 victory. In Q1 2025 alone, the firm reported $14 million in lobbying revenue, representing clients such as TikTok and BMW.
Following the crypto endorsement debacle, the firm has reportedly been shut out of Trump’s political orbit. Staff within Trump’s team were allegedly advised to avoid any engagements with Ballard representatives moving forward.
In response to the allegations, Ballard denied any wrongdoing, stating to Politico that the firm is “accustomed to false accusations” and refuted claims of leveraging personal relationships for commercial gain. Nevertheless, insiders suggest that the damage was inevitable. “One sure way to land in the doghouse is to make it look like you’re using the president’s name for personal gain,” said a source close to Trump.
Amid the backlash, Trump later clarified that Bitcoin (BTC) and Ethereum (ETH) would also be considered for inclusion in any future crypto reserve plan. Still, the initial fallout has already strained key relationships and highlighted the volatile intersection of politics and digital assets.
Neither the White House nor Ripple Labs has issued public comments regarding the matter.
