by Mark E. Jeftovic, Bombthrower:
This may come as a shock to those suffering from what I call “Type 2 TDS” (Trump Divinity Syndrome) but the president’s declaration to add sh*tcoins to the national strategic reserve contradict his own declarations against Central Bank Digital Currencies (CBDCs)
The inciting incident: Trump comes out against CBDCs
Trump has been vocal about his opposition to CBDCs from the same moment he declared himself to be pro-Bitcoin and announcing his intention to create a US Bitcoin Strategic Reserve.
TRUTH LIVES on at https://sgtreport.tv/
Once in office his Jan 23rd Executive Order for “Strengthening American Leadership in Digital Financial Technology” specifically, section 5 called for
“taking measures to protect Americans from the risks of Central Bank Digital Currencies (CBDCs), which threaten the stability of the financial system, individual privacy, and the sovereignty of the United States, including by prohibiting the establishment, issuance, circulation, and use of a CBDC within the jurisdiction of the United States.”
We all know by now that via his recent post on TruthSocial, Trump declared that altcoins like Ethereum, Ripple (and ADA) would be added to the national strategic reserve.
Who wants to tell him?
Plot Twist: XRP is a CBDC! (and so is ETH)
In December 2020, the Gary Gensler’s SEC filed a lawsuit against Ripple, alleging that XRP was an unregistered security and that the company conducted an illegal securities offering by selling XRP tokens. Gensler is gone now, those days are over, and the SEC has dropped many of its suits against cryptos – although it has not yet explicitly dropped the one against Ripple (Anthony Scaramucci recently hinted they would).
In spite of or perhaps because of these regulatory headwinds, Ripple pivoted toward positioning itself as critical infrastructure for CBDCs.
For years ripple declared CBDCs to be part of the value prop right on their home page, ….but then quietly dropped the reference sometime shortly after Donald Trump spoke in Nashville at Bitcoin 2024… suddenly it was about “stablecoins” and “cross border payments” – CBDCs shall no longer be spoken of on Ripple.com…
Ripple was also behind the now aborted #ChangeTheCode initiative, in partnership with Greenpeace, which was a smear campaign that attacked Bitcoin for its Proof-of-Work algorithm.
They also are heavy donors and lobbyists – kicking in over $60 million over the past year or so (and mostly to Democrat and left-wing entities – I wonder if TheDonald knew that before he added them to the SSR).
