Ripple $3.1‘s Chief Legal Officer, Stuart Alderoty, has harshly denied the latest allegations involving the company and its executives. The allegations suggested that former President Donald Trump criticized Ripple for providing financial support to Kamala Harris. Alderoty made a statement on Twitter, stating that these allegations were unfounded and completely fabricated.
Ripple CLO Denies Political Allegations
Rumors began to circulate following a report by Unchained. The report stated that in a meeting that Ripple had with Trump, the company was criticized and XRP was requested to be included in national reserves by Trump. Following this news, the price of XRP rose to $3.40, its highest level in seven years.
Ripple CLO Alderoty responded quickly to the allegations on social media and questioned the source of the information. Alderoty said, “These rumors published by a third-rate crypto newspaper are pure fiction. “It is completely fabricated,” he said.
John Deaton Critiques Speculative Reporting
Notable lawyer John Deaton also criticized speculative reporting like Ripple CLO. Deaton questioned the reliability of anonymous sources and emphasized the importance of evidence-based claims.
“Did someone who wasn’t at the meeting say this to someone else who guessed what was said there?” That’s why there are rules of evidence in court.
Deaton noted the danger of “tribalism” in the crypto industry and said it was surprising that XRP was outperforming BTC.
XRP Price Breaks Seven-Year Record Amid Controversy
As XRP usage increased, over 2,365 $100K transactions occurred. With this increase, the XRP price reached its highest level in 7 years in anticipation of its inclusion in the US strategic digital asset reserve.
Ripple CEO Brad Garlinghouse reportedly contacted Trump and asked for XRP to be included. However, Ripple representative Susan Hendrick denied these allegations and denied rumors that President Trump supports XRP.
These controversies arose during Ripple’s ongoing legal battle with the US Securities and Exchange Commission (SEC). The SEC appealed an earlier ruling on whether XRP sales were securities transactions.
Ripple is trying to clarify the issue by stating that the allegations are unfounded and that they maintain the reliability of the company.
Fluctuations in the price of XRP and further developments in the story are carefully monitored in the cryptocurrency market.
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
