The Chief Legal Officer of Ripple Labs, Stuart Alderoty, has donated $300,000 in XRP to Donald Trump’s presidential campaign. The contribution was made on June 11, 2024, and was recently disclosed. Alderoty attended a fundraising event for Trump hosted by venture investor David Sacks in San Francisco.<\/p>\n
Alderoty sent 624,000 XRP to Trump’s campaign, which was then converted to the stablecoin USDC at an exchange rate of about $0.48 per XRP. This conversion is a standard procedure for Trump’s campaign for all received cryptocurrencies. The donation coincides with Trump’s shift towards a pro-crypto stance, which may have influenced Alderoty’s decision. However, the specific motives behind the donation have not been publicly disclosed.<\/p>\n
There is speculation that Alderoty’s contribution could be strategically aimed at supporting a potential replacement of the current SEC chairman Gary Gensler if Trump is re-elected. A new chairman who is more supportive of cryptocurrencies could impact Ripple’s legal battle with the SEC positively by introducing clearer regulations and pro-crypto legislation.<\/p>\n
Under a Trump administration, the new SEC might be inclined to drop or handle Ripple’s case more favorably, potentially enabling Ripple to operate in the US without constraints and expand its XRP-based services.<\/p>\n
Alderoty is among many donors from the cryptocurrency industry supporting Trump. Trump’s campaign has received substantial contributions from the sector, including $4 million from various cryptocurrencies like Bitcoin, Ether, and XRP between April and June. Notable donors include the Winklevoss twins and BitGo CEO Mike Belshe.<\/p>\n
Trump is set to engage further with the crypto community through a keynote address at a Bitcoin conference and a fundraiser in Nashville. Campaign aide Brian Hughes emphasized the importance of crypto support for American technological leadership.<\/p>\n
Currently, XRP is trading at $0.6031.<\/p>\n
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The Chief Legal Officer of Ripple Labs, Stuart Alderoty, has donated $300,000 in XRP to Donald Trump’s presidential campaign. The contribution was made on June 11, 2024, and was recently disclosed. Alderoty attended a fundraising event for Trump hosted by venture investor David Sacks in San Francisco. Possible Reasons for the Ripple CLO’s Donation Alderoty […]<\/p>\n","protected":false},"author":1,"featured_media":16369,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Ripple's Chief Legal Officer Donates $300,000 in XRP to Donald Trump - Bitrabo","description":"The Chief Legal Officer of Ripple Labs, Stuart Alderoty, has donated $300,000 in XRP to Donald Trump's presidential campaign. The contribution was made on June"},"footnotes":""},"categories":[316],"tags":[4790,4810,6578,1834,3996,4782,5497,575,2377,517],"class_list":["post-16368","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-4790","tag-4810","tag-alderoty","tag-clo","tag-donald","tag-donald-trump","tag-donates","tag-ripple","tag-trump","tag-xrp"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/16368","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=16368"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/16368\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/16369"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=16368"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=16368"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=16368"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}