Ripple founders lobbied for XRP reserve, got sell-only stockpile instead
Ripple and its co-founders spent tens of millions of dollars on political donations with dreams of the US government acquiring XRP for a sovereign crypto reserve. Instead, at 7:11pm yesterday, they endured a catastrophic conclusion to their lobbying efforts. When so-called “Crypto Czar” David Sacks tweeted the text of a signed executive order, Ripple and its XRP Army learned that Donald Trump would not — despite his explicit promise — direct the US government to buy XRP. Although Trump claimed on March 2 that he would create a Crypto Strategic Reserve that includes XRP, he did not. Instead, he actually signed an order relegating XRP to a separate, sell-only stockpile. Rather than entering the ranks of any US Strategic Crypto Reserve, XRP is, disappointingly, a Stockpile Asset. The US government may not buy XRP and may only hold onto or sell it. Indeed, according to the document Trump signed, “ the United States Government shall not acquire addi...