XRP, ADA Inclusion in Strategic Reserve Criticized; Critics Raise Insider Trading Claims

U.S. President Donald Trump’s naming of XRP and ADA among the five digital assets that will make up the crypto strategic reserve has sparked outrage and allegations of insider trading. Similarly, comments by Trump’s son Eric, praising the decision to make the “announcement” on a Sunday while Wall Street was “sleeping,” infuriated social media users who claimed to have voted for the president in the last election.

As reported by several media outlets, including Bitcoin.com News, Trump shared a post about the strategic crypto asset reserve on his social media platform, Truth Social. Initially, the post suggested that the reserve would consist of only three digital assets: ADA, SOL, and XRP. A subsequent post, however, clarified that BTC and ETH would also be included.

As expected, the announcement kickstarted a rally that saw BTC and the crypto market erase some losses from earlier in the week. The inclusion of ADA, which surprised many in the crypto space, caused the digital asset to rally from just under $0.65 to $1.12, a gain of approximately 72%, in just over one hour. However, at the time of writing ( March 2, 3:45 a.m. EST), ADA was trading just under $1.

Reacting to his father’s post, Eric Trump, who is the vice president of The Trump Organization, praised the “genius” of announcing the strategic reserve when traditional markets were closed. These remarks sparked a furious response from some social media users who were not convinced that the weekend announcement benefited retail investors. Others questioned why one trader had opened very risky long positions on BTC and XRP just hours before Trump made the announcement.

Some social media users assert that Eric Trump’s praise of the timing of the announcement is essentially confirmation of a strategy to pump “shitcoins” when markets are closed. Others have questioned how the U.S. government plans to fund the acquisition of these digital assets. U.S. investor Joe Lonsdale warned against using taxpayers’ money to fund crypto schemes.

“Taxation is theft. It should be kept to a minimum. It’s wrong to steal my money for grift on the left; it’s also wrong to tax me for crypto bro schemes. Efficient defense, courts, national parks (should fund themselves), prisons, etc. — fine. Cut it out with these schemes, guys,” Lonsdale wrote on X.

Another investor, Jason Calacanis, warned that using taxpayers’ money to fund the acquisition of digital assets for the strategic reserve could lead to a revolt. Calacanis also highlighted how the announcement marks a change in fortune for XRP.

“XRP went from an SEC lawsuit to being pumped by the president — wow. Just wow… wonder how that happened,” Calacanis asked.

Meanwhile, one user, Pledditor, cautioned against getting carried away by Trump’s post, which the user said does not amount to an official announcement. Instead, the Truth Social post, the user argues, was intended to prop up certain digital assets.

“There was no announcement in that post. Trump didn’t sign any legislation or executive orders either. All president Trump did with that Truth Social post was shill a bunch of tickers. The only ‘winners’ were Brad Garlinghouse and all the insiders who front ran Trump’s shill,” the user said.

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