Ripple’s whole holdings of XRP have exploded in worth by some $125 billion since election day.
That exceptional statistic underscores the diploma to which American crypto corporations have benefited from Donald Trump’s re-election—and presents one rationalization as to why they’ve so enthusiastically thrown their assist behind the president-elect’s incoming administration.
In response to Ripple’s most up-to-date monetary disclosures, the corporate holds some 4.44 billion XRP in liquid property. It additionally oversees practically 39 billion XRP at present in escrow. XRP was developed by Ripple’s founders in 2012.
On the eve of the 2024 presidential election, XRP was price $0.50. Since then, it has exploded in worth. This week, the token got here within inches of its all-time excessive value of $3.40, hitting $3.38 earlier as we speak.
All informed, Ripple’s reported stash of XRP is now price some $146.48 billion {dollars}; in November, it was price about $21 billion.
That historic turnaround is thanks in no small half to Ripple’s aggressive marketing campaign—together with different main American crypto corporations—to alter U.S. crypto coverage by influencing the 2024 election.
Final 12 months, Ripple, together with Coinbase and Andreessen Horowitz, led a $300 million, super PAC-driven charge to reverse crypto’s flagging regulatory fortunes and switch the {industry} into one in all Washington’s key energy facilities.
The marketing campaign was remarkably profitable. Practically each candidate supported by crypto tremendous PACs gained election in November, and the incoming federal authorities seems to be poised to fully change its tune on crypto’s once-questioned legality.
Since the election, President-elect Trump has signaled his intention to assist crypto by a variety of means. He’s anticipated to signal a number of pro-industry executive orders as quickly as he takes workplace on January 20.
Within the weeks main as much as Trump’s swearing-in, crypto corporations have lined as much as curry favor with the incoming administration, significantly by shelling out millions to his inauguration fund.
Ripple gave extra to the Trump inaugural fund than some other crypto donor: $5 million.
A drop in the bucket, in the scheme of issues.
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