Ripple CEO Brad Garlinghouse revealed that during a recent meeting with Donald Trump, he discussed the idea of creating a government-backed cryptocurrency reserve. According to the NY Times, at a dinner at Mar-a-Lago, he mentioned that this could allow Trump to make history as the “crypto president.”
Ripple Labs
Garlinghouse stated that he proposed creating a strategic reserve of digital assets, including not only Bitcoin but also XRP. In addition to this, he suggested adding XRP to the list of assets that could be used for such a reserve.
Earlier, the CEO of Ripple noted that the company achieved success in the U.S. following Trump’s victory in the elections. According to him, as of January 2025, 75% of all jobs at the company are based in the U.S., whereas under President Biden, most new hires were located outside the country.
Meanwhile, on January 16, 2025, the price of XRP reached a historic all-time high (ATH) of $3.4, which allowed the coin to enter the top-3 cryptocurrencies by market capitalization, surpassing $190 billion at the time.
Crypto reserves and Trump’s promises
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Along with the meeting between the president and leaders of several companies, a group of lobbyists presented two 50-page documents with proposals for the crypto industry, according to media reports. One of the key ideas remains Senator Cynthia Lummis from Wyoming’s plan to acquire 1 million BTC over five years.
This initiative is already being discussed with Trump’s transition team, including potential future members of his government, the journalists note.
A representative of the team, Brian Hughes, confirmed that the elected president intends to fulfill his promises and continue supporting the development of cryptocurrencies and other technological innovations in the country.
Information about the creation of a strategic reserve based on several crypto assets emerged on January 16, 2024. According to media reports, during a meeting with the founders of Circle, Solana, and Ripple Labs, Trump discussed the proposal to use their assets for the formation of the reserve.
It is reported that Trump reacted positively to this initiative, and a potential name for the reserve has already been suggested — America-first.
According to Bloomberg, Donald Trump intends to designate cryptocurrencies as a national imperative or priority in his policy.