Ripple’s Political Lobbying Efforts End in Disappointment

Ripple and its co-founders invested tens of millions in political donations aiming for the US government to acquire XRP for a sovereign crypto reserve. However, at 7:11 PM yesterday, their lobbying efforts ended catastrophically.

Trump’s Executive Order

When David Sacks, referred to as the “Crypto Czar,” tweeted about a signed executive order, Ripple’s community learned that Donald Trump would not fulfill his explicit promise to direct the US government to purchase XRP.

On March 2, Trump had claimed he would create a Crypto Strategic Reserve that would include XRP, but instead, he signed an order designating XRP as a separate, sell-only stockpile asset. Therefore, XRP will not join any US Strategic Crypto Reserve; it will only be held or sold by the US government.

The signed document stated, “the United States Government shall not acquire additional Stockpile Assets other than in connection with criminal or civil asset forfeiture proceedings or in satisfaction of any civil money penalty imposed by any agency without further executive or legislative action.”

XRP’s price initially rallied 36% following Trump’s promise for its inclusion in a reserve, but it has since retraced most of that gain, with only a 10% increase remaining.

The US Digital Asset Stockpile

The US stockpile can consist of various non-bitcoin digital assets, including Solana (SOL), Cardano (ADA), and Ethereum (ETH)—all of which Trump originally promised in a reserve. Currently, Bitcoin (BTC) is the only asset the US government is authorized to buy. Other digital assets will remain in a separate, hold-or-sell-only stockpile.

Trump initiated a BTC-only Bitcoin Strategic Reserve, funded by BTC from criminal and civil forfeiture proceedings. The US government currently controls approximately 200,000 BTC, most of which is pending distribution to Bitfinex.

In contrast, Treasury Secretary Scott Bessent appeared on CNBC and suggested that the Strategic Bitcoin Reserve might eventually include altcoins, stating, “We’re starting with bitcoin, but it’s an overall crypto reserve.” This ambiguous promise contrasts with the actual terms of the document and adds a notable layer to the ongoing story.