Ripple‘s top legal advisor, Stuart Alderoty, has unequivocally refuted allegations that Donald Trump, as the then-president-elect, disparaged Kamala Harris’s funding sources among TV executives during her election campaign.
The claims, first reported by various news outlets, have sparked debate. Yet, they still lack concrete evidence to support them.
Controversy Around Ripple Executive’s Donations to Kamala Harris
The issue originates from a report published by Axios, claiming that Trump had privately criticized representatives from a company whose identity remains undisclosed, due to their perceived lack of backing.
…”In my time of need, it seemed like you weren’t around. It appeared as though you might have been with Kamala Harris instead,” according to Axios, who shared this quote from Trump.
According to Unchained’s sources, although the publication didn’t explicitly mention it, there were suspicions that the unnamed company could be Ripple. The report also stated that Trump is said to have expressed dissatisfaction with Ripple, a blockchain firm associated with XRP, in a private discussion.
The accusations involve Chris Larsen, a co-founder of Ripple, who contributed substantial amounts to the Harris campaign. According to BeInCrypto, this Ripple leader donated as much as $11 million to boost Harris’ presidential bid in October.
Larsen previously stated that he trusts Kamala Harris to make American technology lead globally, and for this reason, he is contributing $10 million worth of XRP towards her campaign.
Approximately a week prior, Larsen made a donation totaling $1 million in XRP towards Harris’ campaign. This significant gift sparked discussions about Ripple’s potential political affiliations.
In a different wording: “Fred Rispoli, a supporter of XRP, offered an explanation for the donation he made. Upon further contemplation, his viewpoint is that the most logical reason behind it was to test if she would accept the XRP, which her administration classifies as an investment contract. It’s important to note that this donation equates to just 0.0323% of Chris Larsen’s total wealth.
Regardless of why he did it, Ripple’s CEO, Brad Garlinghouse, expressed admiration for Larsen’s choice. He emphasized that Ripple remains committed to working with people from different political backgrounds in order to push for policies favorable to cryptocurrencies.
Ripple CLO Stuart Alderoty Slams Rumors as “Pure Fiction”
As a crypto investor, I recently saw a post from Alderoty, who used to be active on Twitter, where he refuted the criticisms Trump had made regarding those donations.
Alderoty expressed, “Wow, information from unknown sources? Allow me to clarify: I am a known source. The claims made by this lesser-known cryptocurrency news outlet are entirely fabricated. Absolutely untrue. I’m curious as to who could be behind this?
Alderoty’s remarks contradict the trustworthiness of the two reports, which relied on unnamed sources. Meanwhile, a well-known user on platform X has criticized Ripple for failing to disprove positive rumors about their network.
This version aims to keep the original meaning and tone but uses simpler language and a more direct structure for easier reading.
Fishy Catfish asked: Why don’t you disprove the false rumors spreading from unknown sources about your XRP investments? For instance, claims like Bank of America using XRP, numerous Non-Disclosure Agreements (NDAs), and countless other fabrications that seem to support why XRP holds a top-3 market cap. Yet, XRP Ledger (XRPL) only has 100 daily users, four apps, $60 million Total Value Locked (TVL), and generates approximately $1,000 per day in fees.
Simultaneously, adding another layer to the story, Ripple revealed its plan to contribute $5 million worth of XRP to Donald Trump’s inauguration. This proposed contribution suggests that the firm is backing Trump’s administration, anticipating potential pro-cryptocurrency policies in the future.
In the midst of all the commotion, Ripple’s own digital currency, XRP, has climbed approximately 8% since the market opened on Friday. As we speak, according to BeInCrypto, XRP is being exchanged for roughly $3.33.
Experts link the rise to increased focus on Ripple, coupled with its significant role in both the Trump administration and the broader blockchain industry, amidst various speculations.
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2025-01-17 11:26