Stuart Alderoty, the Chief Legal Officer of Ripple, has strongly dismissed recent allegations involving the company and its leaders. These accusations arose from claims suggesting former President Donald Trump had criticized Ripple for purportedly backing Kamala Harris financially. Alderoty took to social media to refute these assertions, labeling them as fabrications with no basis in reality.
What Triggered the Controversy?
The rumors gained traction following a report from Unchained, which claimed that Ripple received backlash from Trump during a meeting, including a call for XRP to be part of the national reserves. This news coincided with a significant surge in XRP’s price, which reached a peak of $3.40, marking its highest level in seven years.
In reaction to the circulating rumors, Alderoty raised questions about their authenticity. He remarked, “These rumors published by a third-rate crypto publication are pure fiction. They are completely made up.”
How Are Experts Responding?
John Deaton, a well-known lawyer, echoed Alderoty’s sentiments, criticizing speculative journalism. He pointed out the necessity for credible evidence, especially when relying on anonymous sources.
“Did someone not present at the meeting tell another who was there what was said?” he questioned, highlighting the importance of evidence.
Deaton also discussed the risks of “tribalism” within the crypto sector and noted XRP’s unexpected performance compared to Bitcoin.
Could XRP’s Surge Continue?
As XRP transactions surged, over 2,365 transfers exceeding $100,000 were recorded, contributing to the token’s remarkable price rally, driven by speculation regarding its potential inclusion in the U.S. strategic digital asset reserve.
While reports indicated that Ripple CEO Brad Garlinghouse reached out to Trump regarding XRP’s inclusion, Ripple spokesperson Susan Hendrick rejected the notion of Trump endorsing XRP, asserting these claims were inaccurate.
The discourse surrounding XRP unfolds amid Ripple’s ongoing legal challenges with the U.S. Securities and Exchange Commission (SEC), which previously appealed a ruling on whether XRP sales are securities transactions.
– Alderoty’s statements emphasize the commitment to protecting Ripple’s reputation.
– The skepticism towards the sources of the allegations raises questions about journalistic integrity.
– XRP’s impressive market performance could be influenced by strategic discussions regarding its regulatory status.
Ripple remains steadfast in asserting the unfounded nature of these allegations, focusing on preserving the company’s integrity and credibility in a turbulent market landscape.
