Ripple CEO Rebuts Claims of Anti-Bitcoin Reserve Lobbying
Ripple CEO Rebuts Claims of Anti-Bitcoin Reserve Lobbying
Recent allegations surfaced accusing Ripple Labs of actively lobbying against the establishment of a Strategic Bitcoin Reserve (SBR). Pierre Rochard, Riot Platforms' VP of Research, claimed Ripple is spending millions to influence politicians and derail the SBR initiative. Rochard highlighted Ripple's purported opposition to Bitcoin mining and suggested their motive is to promote XRP and central bank digital currencies (CBDCs).
Ripple's Response
Ripple CEO Brad Garlinghouse refuted these claims on X (formerly Twitter). He argued that Ripple's actions are actually *increasing* the likelihood of a crypto strategic reserve, which could include Bitcoin. Garlinghouse pointed to President Trump's campaign promises to support American companies and technologies as evidence.
Garlinghouse's statement on X: "Unless you are choosing to ignore the core tenets of the POTUS campaign (which aggressively supports American companies and technologies), our efforts are actually INCREASING the likelihood of a crypto strategic reserve (which includes bitcoin) happening."
National Digital Asset Stockpile
Following this exchange, President Trump signed an executive order establishing a national digital asset stockpile. This decision, while potentially displeasing to some Bitcoin maximalists, includes a broader range of digital assets beyond Bitcoin, aligning with Trump's campaign promises and reflecting a more inclusive approach to the crypto ecosystem.
Key developments under the Trump administration:
- Appointment of pro-crypto regulators Mark Uyeda (acting SEC chairman) and Caroline Pham (CFTC chairman).
- Formation of a crypto task force within the SEC, led by Hester Peirce, to drive regulatory efforts.
The creation of a national digital asset stockpile marks a significant step for the crypto industry. While the specific composition of the reserve remains to be seen, the move demonstrates a shift towards broader government acceptance of digital assets.
Codeum Note: Codeum provides comprehensive blockchain security services, including smart contract audits, KYC verification, custom smart contract and DApp development, tokenomics and security consultation, and partnerships with launchpads and crypto agencies. We help ensure the secure development and deployment of blockchain projects, mitigating risks associated with both individual crypto assets and broader industry infrastructure initiatives such as national digital asset reserves.
Disclaimer: This content is for informational purposes only and should not be considered investment advice. Conduct thorough research before making any investment decisions.