Ripple’s CLO Slams Trump Rumors: The Shocking Truth Revealed!

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Stuart Alderoty, Ripple‘s Chief Legal Officer, has firmly denied recent speculations linking the company and its leaders to allegations made by former President Donald Trump about financial backing of Kamala Harris during an election. Alderoty dismissed these claims as unfounded and completely fabricated, using Twitter to label the stories as nothing more than a work of fiction.

Ripple CLO Refutes Claims of Political Allegations

There are whispers circulating after Unchained’s report suggested that insiders claim Trump and Ripple had a conversation where Trump criticized the company. In this report, Trump allegedly stated that Ripple failed to support his administration at a critical moment and emphasized that Chris Larsen, one of Ripple’s co-founders, contributed to PACs advocating for Kamala Harris.

The report also implied that Ripple possibly sparked a different story published by the New York Post. This story suggested that Trump was considering incorporating non-Bitcoin, U.S.-based cryptocurrencies like XRP, into the national reserve. After this report, the value of XRP, Ripple’s own currency, increased dramatically, reaching a seven-year peak of $3.40.

Ripple’s top legal advisor, Stuart Alderoty, swiftly responded to the accusations on social platforms and raised doubts about the authenticity of information from unknown sources. “The stories spread by this lesser-known crypto magazine are entirely fabricated. Entirely fictitious,” Alderoty posted on platform X.

John Deaton Criticizes Speculative Reporting

Similar to Ripple’s CLO, well-known lawyer John Deaton, an active voice within the XRP community, also voiced his disapproval towards the speculative news reports. Deaton raised doubts about the credibility of unidentified sources and underscored the significance of substantiated assertions.

As Deaton took to X to express his opinions he wrote,

As a researcher, I’d like to clarify a situation where someone who didn’t attend the meeting relayed to another individual their assumptions about the conversation that allegedly took place. The reason we establish rules of evidence in court is precisely to ensure that such second-hand information, which may not be reliable or accurate, isn’t admitted as fact without proper verification.

Deaton likewise highlighted potential risks stemming from “tribalism” within the crypto community, where certain cliques attempt to sow fear, confusion, and doubt (FUD) about rival projects. In his opinion, the recent strong performance of XRP compared to Bitcoin might provoke some surprise among other digital currencies.

XRP Price Hits 7 Year High Amid Controversy

At the same moment when the extraordinary surge of XRP transactions exceeded 2,365 $100K, it was also noted that speculation arose. Simultaneously, the value of XRP increased by over 10% within the last 24 hours, reaching a 7-year high, as predictions circulated that this digital asset might be incorporated into a strategic U.S. reserve for digital assets, fueling further speculation.

Besides the New York Times, various other publications have disclosed that Ripple’s CEO, Brad Garlinghouse, suggested to President Trump the idea of broadening a digital reserve to incorporate cryptocurrencies beyond Bitcoins. However, no evidence has been found yet to confirm whether Trump agreed to this proposal or not.

Representative Susan Hendrick from Ripple clarified that Garlinghouse indeed contacted the ex-president, but she dismissed claims that Ripple was responsible for spreading rumors about Trump endorsing XRP. When presented with these accusations, she firmly stated to Unchained that they were completely false.

The debate surfaces as Ripple is immersed in a legal dispute with the U.S Securities and Exchange Commission (SEC). The SEC has recently lodged an appeal against a 2023 ruling by Judge Analisa Torres, where XRP sales on cryptocurrency exchanges were deemed not to involve securities transactions.

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2025-01-17 07:36