Ripple's Crypto Lobbying: Trump Told to Add Solana to Reserve

In a recent revelation, an insider has disclosed that a Ripple executive once lobbied former U.S. President Donald Trump to include Solana (SOL) in a proposed crypto reserve plan. The alleged move was aimed at providing cover for XRP, Ripple's native cryptocurrency. This news has sparked a wave of reactions and discussions within the crypto community.

The news comes amidst Trump's recent announcement of a strategic crypto reserve plan, which initially included Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Solana (SOL), and Cardano (ADA). The inclusion of non-Bitcoin tokens in the reserve raised questions and concerns among investors, leading to a broad selloff that erased most of Sunday's gains.

Ripple has been a major player in crypto lobbying, having donated significant amounts to influence U.S. elections. Notably, Ripple donated $5 million in XRP to the Trump Inauguration Fund. The company's active lobbying efforts have raised eyebrows within the crypto community, with some questioning the motives behind these actions.

Trump's proposal for a U.S. crypto reserve has sparked a debate among crypto enthusiasts and experts alike. While some argue that the move could promote the establishment of cryptocurrency reserves in the United States, others question the wisdom of including specific cryptocurrencies in the reserve.

The announcement of the proposed crypto reserve has had an impact on the crypto market. Bitcoin, for instance, retreated after early gains following Trump's announcement. The inclusion of XRP, SOL, and ADA in the proposed reserve has been a topic of discussion, with some expressing concerns about the potential influence of lobbying efforts on the selection process.

As the crypto community continues to digest the news and its implications, it remains to be seen how this revelation will impact the future of Ripple, XRP, and the broader crypto market. The dynamics of crypto lobbying and the potential influence of political figures on the crypto industry are likely to remain a hot topic of discussion in the coming months.