Wednesday, June 19, 2024
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Speculations On Whether Donald Trump Holds XRP

Discussions about Donald Trump’s alleged holdings of XRP have been circulating within the XRP community. This speculation was sparked by a screenshot of an XRP wallet labeled “TrumpProductions” shared by an XRP user, “Matze XRP”.

However, these rumors have faced scrutiny, as it is essential to separate fact from fiction. This speculation emerged after Arkham Intelligence revealed that Trump’s crypto wallet is worth over $10.14 million, comprising predominantly meme-based assets.

Read Also: XRP Holders Make a Statement at Donald Trump’s New York Campaign Rally

Trump’s Crypto Wallet: A Multi-Million Dollar Portfolio

According to Arkham Intelligence, Trump’s crypto wallet has experienced significant growth mainly “fueled by the rise in price of the TRUMP coin”, which is the former U.S. President’s largest holding. As of Monday, May 27, his wallet was worth over $10.14 million.

This revelation has sparked interest in his crypto holdings, with some members of the XRP community claiming that he may be holding a significant amount of XRP.

Debunking the XRP Claim

However, reputable figures in the XRP community, including XRP Ledger validator Vet, have clarified that “XRP Ledger Account labeling on Explorers or other Wallet services is completely unauthorized.” This means that bearing the wallet tag “TrumpProductions” is not proof of Donald Trump’s ownership.

In reality, anyone can freely choose XRP wallet names, and there is no verification process to adopt the names of public figures, including Donald Trump in naming accounts. This lack of verification makes it easy for public figures’ names to be misleadingly associated with wallets for likely manipulative purposes.

Confirmed Crypto Holdings

As revealed by Arkham Intelligence, Donald Trump’s crypto portfolio is largely composed of meme-based assets, which are frequently donated to support his political campaign. His holdings include a substantial amount of TRUMP meme coins, totaling 579,000 and valued at $6.9 million, as well as 464.3 Ethereum tokens, worth $1.8 million.

Furthermore, he possesses other notable meme coins, such as CONAN and BABYTRUMP, with values surpassing $100,000.

Read Also: Donald Trump Throws His Weight Behind Bitcoin (BTC) and Crypto

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Addressing Fraudulent Identities

Vet has confirmed that a new amendment called Decentralized Identifier (DID) is being developed to tackle the issue of fraudulent identities on the XRPL network. Validators are currently voting on this amendment, and it needs to reach an 80% majority approval to be implemented. The XRPL developer community is actively working on getting this amendment passed.


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Solomon Odunayo
Solomon Odunayo
Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.
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