Ripple CEO Refutes Claims of Lobbying Against U.S. Strategic Bitcoin Reserve

Brad Garlinghouse, the CEO of the digital asset infrastructure provider Ripple Labs, has refuted claims that his company is lobbying against the creation of a Strategic Bitcoin Reserve in the United States.

In response to a tweet by Pierre Rochard, vice president of Bitcoin mining giant Riot Platforms, Garlinghouse insisted that Ripple Labs’ efforts have actually increased the likelihood of creating a national digital asset stockpile comprising leading cryptocurrencies, including bitcoin (BTC).

Unless you are choosing to ignore the core tenants of the POTUS campaign (which aggressively supports American companies and technologies), our efforts are actually INCREASING the likelihood of a crypto strategic reserve (which includes bitcoin) happening.

— Brad Garlinghouse (@bgarlinghouse) January 23, 2025

The U.S. Crypto Reserve Saga

Less than 24 hours ago, President Donald Trump signed an executive order to create a group to evaluate the potential creation of a national digital asset stockpile. The President’s Working Group on Digital Asset Markets has been tasked with amending and recommending crypto policies, proposing a regulatory framework for digital assets, and evaluating the creation of a national digital asset stockpile.

The group will be led by David Sacks, the president’s special advisor on artificial intelligence and crypto. It will also include the heads of national regulatory agencies, such as the Securities and Exchange Commission, the Commodity Futures Trading Commission, the Treasury Department, and the Justice Department.

While President Trump’s order is considered a good development for the crypto industry, it sparked much controversy because he promised a Strategic Bitcoin Reserve (SBR), not a national digital asset stockpile. During his campaign, Trump also promised to fight against Central Bank Digital Currencies (CBDCs).

Advocating For a Multi-token Reserve

In his tweet, Rochard asserted that the biggest obstacle for the SBR is not the Federal Reserve, the Treasury Department, or crypto-skeptics like Elizabeth Warren but Ripple, lobbying to include the network’s native asset, XRP, in the reserve.

“It’s Ripple/XRP. They are aggressively lobbying against the SBR by throwing around $millions at politicians, desperately trying to derail it. They did the same to attack bitcoin mining under the Biden administration. Obviously, they want to protect their marketing narratives and push for CBDCs built on their platform,” Rochard said.

Refuting Rochard’s claims, Garlinghouse explained that the core tenets of President Trump’s campaign supported American companies and technologies. As a result, including other cryptocurrencies in the U.S. crypto reserve made more sense, which is what Ripple has been lobbying for.

Since BTC is considered the king of cryptocurrencies and the primary digital asset that promotes decentralization, Ripple’s advocacy for a multi-token U.S. reserve will likely attract a lot of criticism in the coming weeks.