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Cryptocurrency News Articles

Trump reportedly blackballed a lobbying firm that he thinks manipulated him into posting on social media about XRP.

May 11, 2025 at 12:55 am

In early March, Trump announced on his Truth Social platform that he directed the Presidential Working Group on Digital Asset Markets “to move forward on a Crypto Strategic Reserve that includes XRP, SOL, and ADA.”

Trump reportedly blackballed a lobbying firm that he thinks manipulated him into posting on social media about XRP.

A report by Politico claims that President Donald Trump has blackballed a lobbying firm that he feels manipulated him into posting about crypto on social media.

Early March saw Trump announcing on his social media platform, Truth Social, that he had directed the Presidential Working Group on Digital Asset Markets to proceed with a Crypto Strategic Reserve that includes XRP, SOL, and ADA.

According to Politico, which cites two people familiar with the incident, an employee of the lobbying firm Ballard Partners cornered Trump at Mar-a-Lago and urged him several times to make the post. The employee, who remains unnamed, even provided Trump with the text of a message she felt the president should write.

After Trump posted about directing the working group to move forward on the reserve, he discovered that the firm behind the payments coin XRP, Ripple, was a Ballard client. Trump was reportedly furious and felt like he had been used.

The president is said to have blackballed the head of the firm, Brian Ballard, explicitly stating “he is not welcome in anything anymore.”

Furthermore, Politico reports, citing three anonymous sources, that David Sacks, the White House's Crypto Czar, was furious about the post on Truth Social and complained to Trump's chief of staff, Susie Wiles.

Trump later posted a follow-up message on Truth Social, praising the top two crypto assets.

"And, obviously, BTC and ETH, as other valuable Cryptocurrencies, will be the heart of the Reserve. I also love Bitcoin and Ethereum!"

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Other articles published on May 11, 2025