XRP News Today: Ripple s 11M Harris Donation Sparks XRP Holder Controversy SEC Legal Tensions

Recent developments have reignited debates over Ripple’s alignment with XRP holders, as political donations by its executives spark scrutiny and internal community tensions. The controversy centers on Chris Larsen’s $11 million contribution to Kamala Harris’s 2024 presidential campaign, the largest crypto industry donation to date. Critics argue this reflects a misalignment with the interests of XRP holders, many of whom view Donald Trump as more crypto-friendly. Tensions have resurfaced as Ripple navigates its ongoing legal battle with the SEC, with former SEC attorney Marc Fagel clarifying that the lawsuit was initiated under the Trump administration. Fagel emphasized that the case was filed during Jay Clayton’s tenure as SEC Chair, predating Gary Gensler’s appointment and contradicting claims that the Biden administration suppressed XRP.

The legal dispute, initially dismissed by the Trump-era SEC, has drawn renewed attention as Ripple’s CEO, Brad Garlinghouse, indicated the company is nearing resolution. However, community members remain skeptical, with some advocating for XRP sales if the token reaches $3.5 and Bitcoin purchases if it surpasses $125,000. Fagel’s intervention highlighted procedural nuances, noting that Clayton’s final-day approval of the lawsuit was a routine step to avoid delays during leadership transitions. Meanwhile, critics accuse Ripple of inconsistency, pointing to Garlinghouse’s post-election outreach to Trump, despite Larsen’s support for Harris.

The political donations have broader implications for Ripple’s reputation. Analysts observe that the company’s alignment with Harris, who shares Biden’s regulatory stance, contrasts with the Trump administration’s dismissal of most crypto lawsuits. This has fueled concerns that Ripple prioritizes strategic political ties over XRP holders’ interests. Fagel’s clarification aims to contextualize the SEC case’s origins, but the debate underscores the challenges of balancing corporate strategy with community expectations in a polarized regulatory environment.

The case remains pending final resolution, with Ripple’s legal and political maneuvers under closer scrutiny. As XRP holders weigh their positions, the outcome could influence perceptions of the company’s governance and market credibility.

Source: [1] [title1] [url1]

[1] [title1: Ripple vs SEC or XRP Holders? Ex-SEC Answers Buzzing Question As Case Awaits Final Whistle] [url1: https://coinmarketcap.com/community/articles/6884b3fd60d07458bffc7041/]