In a recent development, members of the XRP community have made claims suggesting that Donald Trump, a candidate in the US presidential election, may possess a significant number of XRP tokens. This revelation came to light following reports of Trump’s acquisition of a multi-million-dollar cryptocurrency portfolio over the past few months. According to Arkham Intelligence, Trump’s crypto wallet was valued at over $10.14 million as of May 27th. The surge in value was largely attributed to his ownership of the TRUMP meme coin, which is currently his largest holding.
In response to this news, a user known as “Matze XRP” shared a screenshot of an XRP wallet named “TrumpProductions,” asserting that it belonged to the Republican presidential candidate. However, it is important to note that the mere existence of a wallet with the name “TrumpProductions” does not serve as concrete evidence of Trump’s ownership. In reality, anyone can choose any name for their XRP wallet.
Prominent figures in the XRP community, including the XRP Ledger validator Vet, have confirmed this fact. A similar situation occurred earlier this month when claims arose about Elon Musk testing XRP payments for his social media platform X. In response, the XRPL validator clarified that the labeling of accounts on wallet services is unofficial and does not imply verification of ownership by public figures like Donald Trump or Elon Musk. This highlights the potential for misleading associations between public figures’ names and wallets for manipulative purposes.
The XRPL developer community is actively working to address the issue of fraudulent identities. Vet has confirmed that the upcoming Decentralized Identifier (DID) amendment will tackle this problem. Currently, the amendment has garnered 34.29% consensus among validators, but it requires an 80% majority to be approved.
Data from Arkham Intelligence reveals that Donald Trump’s crypto holdings primarily consist of meme-based assets, often received as campaign donations. This aligns with his statements supporting a crypto-friendly administration if he is elected president. Trump currently possesses 579,000 TRUMP meme coins, valued at $6.9 million, and 464.3 Ethereum tokens, worth $1.8 million. He also holds other meme coins such as CONAN and BABYTRUMP, which have values exceeding $100,000.
It is important to mention that this article is for informational purposes only and should not be considered as financial advice. The opinions expressed herein are solely those of the author and do not reflect the views of The Crypto Basic. Readers are advised to conduct thorough research before making any investment decisions, as The Crypto Basic is not responsible for any financial losses incurred.