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- A Truth Social post tied to XRP ignited a political scandal inside the White House.
- Ripple’s connection to a top D.C. lobbyist raised serious ethical concerns.
- The White House has officially blacklisted Brian Ballard after the XRP lobbying fallout.
A political tempest has erupted around Washington following a viral social media post promoting XRP, which spiraled out of control inside the White House. The post, which named XRP among other altcoins, was traced to an employee of Brian Ballard’s strong lobbying boutique, Ballard Partners.
The message, shared in early March on Truth Social, referred to a “Crypto Strategic Reserve” and appeared to suggest government endorsement of select digital assets. It immediately sent a price shock wave on XRP, exciting the crypto community. However, following further clarification from the White House, only Bitcoin would be considered for any official reserve; no similar consideration would be extended to other cryptocurrencies.
Not long after the post went viral, it was discovered that Ripple Labs, the blockchain company associated with XRP, had hired Ballard’s firm only months previously. This linkage prompted questions on the motive of the post and whether lobbying activities were being covered as the general populace policy messaging. According to lobbying records, Ripple retained Ballard Partners in November of the previous year.
Tensions flared inside the administration. Top aides in the Senate lamented the situation, with one top aide reportedly confronting Ballard face to face. Despite previous growing fears about Ballard’s influence, the XRP post acted as a tipping factor, which got him dethroned.
White House Takes Decisive Action Amid XRP Controversy
The administration quickly acted to sever all touch with Ballard by banning meetings between him and any White House official. This represented a precipitous decline from grace for the erstwhile powerful lobbyist with a deep understanding and relationships with the executive branch.
Ballard had established a client base consisting of prominent institutions such as JPMorgan and Kraken, the crypto exchange. His firm’s apparent participation in the XRP messaging scandal now shadows its lobbying activities. Ripple has not stated its part in the controversy or its future with the firm.
The fallout of the lobbying mistake is changing how crypto companies approach Washington. While the sector looks for clarity on regulation, the incident is an example of the dangers that give rise to overstepping boundaries.
The White House’s decision to sever ties with Brian Ballard sends a strong message against the wanton combination of lobbying and public policy. With XRP’s sudden boom under the microscope, lobbying outfits could now find their activities with government officials tightened.
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