The push for a strategic Bitcoin Reserve (SBR) dates back many months, and today, Ripple Labs was flagged as a firm actively lobbying against achieving this.
Ripple Labs was reportedly flagged as a firm actively lobbying against the establishment of a Strategic Bitcoin Reserve (SBR) by several months of discussions. This callout was made by Pierre Rochard, Riot Platforms' VP of Research. He claimed that Ripple Labs is attempting to derail the SBR plans by paying politicians millions of dollars.
The biggest obstacle dragging down the Strategic Bitcoin Reserve is not the Fed, according to Rochard. He noted that these obstacles are not the US Treasury, banks, or Elizabeth Warren.
He said the problem is Ripple Labs and the obvious focus on XRP. The Riot Platforms executive noted that Ripple is “aggressively lobbying against the SBR by throwing around $millions at politicians.” He believes the motivation of Ripple Labs is to derail the strategic Bitcoin reserve plans.
Pierre Rochard went on to cite similar examples related to crypto mining. He said Ripple Labs attacked Bitcoin mining under President Joe Biden's administration.
“Obviously they want to protect their marketing narratives and push for CBDCs built on their platform,” he claims.
Responding to the claims from Rochard, Brad Garlinghouse said perhaps he is choosing to ignore the core tenets of President Donald Trump's campaign. For emphasis, he said this campaign promises to support American companies and technologies in general.
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