President Trump announced plans for an American strategic crypto reserve involving XRP, Solana, and Cardano, excluding Bitcoin and Ethereum, leading to backlash.
Trump felt misled by the role of lobby group Ballard Partners, which has ties to Ripple, resulting in strained political alliances and fallout with Brian Ballard.
Despite the fallout, Ballard Partners continued signing new clients and earning revenue, with no slowdown in business.
After the initial controversy, Trump later included Bitcoin and Ethereum in the reserve plan, signing an executive order for the U.S. Strategic Bitcoin Reserve to expand American presence in the crypto space.