Ripple CEO Slammed For Attempting to Block Strategic Bitcoin Reserve For XRP

In a tweet that stirred significant debate within the cryptocurrency community, Pierre Rochard, Vice President of Research at Riot Platforms, reaffirmed his support for the Trump/Vance 2024 presidential campaign.

Rochard emphasized that the administration would be beneficial for Bitcoin and the broader United States economy. Accompanying his endorsement were images highlighting Ripple’s alleged political maneuvers, including its purported efforts to adapt to the unexpected outcome of the 2024 U.S. presidential election.

Rochard’s post referenced Ripple CEO Brad Garlinghouse’s endorsement of Kamala Harris before the election. The accompanying material suggested that Ripple strategically positioned itself to capitalize on a central bank digital currency (CBDC) initiative under a Harris administration, leveraging their technology for its implementation. However, Trump’s unexpected victory appears to have disrupted these plans.

Rochard alleged that Ripple donated millions to align itself with the new administration. He claimed these contributions were meant to secure influence and divert the Trump administration’s focus from initiatives like the Strategic Bitcoin Reserve.

Ripple was hoping that Kamala would foist a CBDC on the United States and use their technology.

They were taken by surprise when Trump won, so they immediately started giving $millions after the election to get a seat at the table and derail the Strategic Bitcoin Reserve. https://t.co/ejwnhpuYXd

— Pierre Rochard (@BitcoinPierre) January 24, 2025

Financial Contributions to Trump-Aligned Efforts

Rochard’s assertions align with recent investigative reports into Ripple’s political contributions. According to the Times Tabloid , Ripple did not directly fund Trump’s reelection campaign but made significant financial contributions to causes associated with his administration.

Ripple’s Chief Legal Officer, Stuart Alderoty, contributed 624,000 XRP —worth approximately $300,000 at the time—to a Super PAC aligned with Trump.

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— TimesTabloid (@TimesTabloid1) July 15, 2023

Additionally, Fox Business reported that Ripple donated $5 million to support Trump’s inauguration ceremony following his 2024 electoral victory

These financial efforts raise questions about Ripple’s broader strategy in navigating political transitions and advancing its interests in a challenging regulatory environment.

Rochard’s Support for Bitcoin-Driven Policies

In contrast to Ripple’s approach, Rochard has been an outspoken advocate for Bitcoin-centric policies. By endorsing Trump and his running mate, J.D. Vance, Rochard signals optimism for policies that prioritize Bitcoin and blockchain technology development.

Trump’s previous administration was marked by ambivalence toward cryptocurrency regulation. However, recent campaign rhetoric has suggested a more favorable stance toward Bitcoin, with some proponents citing it as a means of strengthening U.S. financial sovereignty.

Riot Platforms, a leading Bitcoin mining and digital infrastructure company, stands to benefit from policies promoting Bitcoin adoption and blockchain innovation. Rochard’s endorsement reflects the growing divide between cryptocurrency advocates who prioritize decentralized solutions like Bitcoin and those supporting centralized digital currencies, such as CBDCs.

Whether Trump’s administration will deliver on promises favorable to Bitcoin remains to be seen, However, the ongoing debate underscores the significance of political alignment in shaping the trajectory of cryptocurrencies in the United States.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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