A surprising ripple effect ensued following former President Donald Trump’s post on Truth Social, where he mentioned the “Cryptocurrency Strategic Reserve,” specifically naming Ripple
$
2’s XRP coin. This development ignited unexpected buzz in Washington, starting with Brian Ballard’s lobbying firm, Ballard Partners. The revelation that Ripple Labs was a client of Ballard Partners led Trump to express outrage. This newfound insight resulted in Ballard being abruptly distanced from the White House. Earlier in March, this post had already sparked tensions within the lobbying sphere.
Ballard’s Influence at the White House Quickly Diminishes
In early March, a representative from Ballard’s company reached out to Trump after a donor event at Mar-a-Lago, encouraging him to endorse the reserve proposal. They even provided specific talking points that alluded to XRP. However, when it was revealed that Ripple was one of Ballard Partners’ clients, the situation swiftly deteriorated.
Donald Trump XRP Message
Upon discovering the connection, Trump did not conceal his response, announcing that Ballard would no longer be welcomed. This statement influenced White House staff to internally prohibit scheduling meetings with Ballard, abruptly tarnishing Ballard’s cultivated image and chilling relationships in the West Wing.
Ballard Partners’ Rapid Ascent and Controversial Times
Ballard Partners quickly made its mark at the start of Trump’s second term. Within the year’s first three months, the firm tripled its revenue from the previous year, reaching $14 million and securing 130 new clients. This was deemed an impressive performance for the company.
However, some circles accused Ballard of making exaggerated claims about its influence. Critics from Trump’s inner circle argued that the lobbyist was not only promoting former connections but also embellishing its importance. Ballard, denying all accusations, defended the firm, insisting, “I did not try to deceive clients with West Wing connections.” Nonetheless, some prominent clients began seeking alternatives, causing dissent within the firm.
