Strategy founder Michael Saylor has sparked controversy with his surprising comment on ‘proof-of-reserves.’ A viral video shows Saylor calling exchanges and companies publishing on-chain proof-of-reserves a ‘bad idea,’ igniting a heated debate on the X platform. Saylor Thinks Publishing Proof of Reserves Is Not Good Earlier today, Bitcoin proponent and analyst Mitchell shared a thread on his official X page, revealing Michael Saylor’s approach to proof-of-reserves. During a May 26 event related to the Bitcoin 2025 conference in Las Vegas, Michael Saylor stated, referring to proof-of-reserves, “It’s a bad idea.” Significantly, Michael Saylor’s skepticism on the idea is primarily driven by its potential limitations and risks. According to the MicroStrategy founder, by publishing the proof-of-reserves, the companies are exposing themselves to security threats and other vulnerabilities. He posited, The current, conventional way to publish proof of reserves is an insecure proof of reserves. It actually dilutes the security of the… Read More at Coingape.com
Several political reports claim President Trump did not initially intend to put XRP in his Crypto Strategic Reserve. Instead, they suggest that lobbyist Brian Ballard manipulated him into doing so.
Although the President was allegedly furious at these events, this may not change XRP’s position in the Reserve. Ripple’s CEO, Brad Garlinghouse, vocally supports and has made large donations to Trump’s election campaign.
When Trump made a social media post a month into the office, it included SOL, ADA, and XRP in the mix, boosting the notoriety of these assets. Today, Politico made shocking allegations suggesting that this was not his intention.
Specifically, the report alleged that Brian Ballard, a lobbyist who has worked with Trump for years, used underhanded tactics. One of Ballard’s employees repeatedly petitioned Trump to endorse XRP and other altcoins in his post.
Most notably, Ripple Labs is also a Ballard client, which paid the lobbyist $60,000 last year. When the President discovered this, he apparently raged.
Ripple Listed as a Ballard Partners Client. Source: OpenSecrets.
Meanwhile, the US president has now exiled Brian Ballard. The community reacted strongly to these events, suggesting Trump might remove XRP and other altcoins from the Strategic Reserve. However, this may be overstated for a few reasons.
Trump was allegedly angry over being misled, not because he had a specific distaste for XRP. The Reserve announcement occurred shortly before Trump’s Crypto Summit, and David Sacks worried about perceived favoritism. Nonetheless, Ripple has been a good friend to the President.
President Trump exiled a top lobbyist for promoting Ripple’s XRP.
In other words, why would Trump decide to punish XRP for Ballard’s actions? These allegations are indeed shocking, but the market evidently doesn’t expect turmoil for XRP at this time.
To be clear, neither Trump, Ballard, nor Ripple employees have responded to these allegations. Regarding XRP’s place in the Reserve, Trump may simply let bygones be bygones.
It’s important to understand that while the US president signed an executive order to ‘assess the establishment’ of a strategic crypto reserve, no developments have been made yet.
Senate lawmakers are deep in discussions over the GENIUS Act, a bill that’s currently facing a long list of proposed changes. If they succeed, the bill could be brought to the Senate floor by the end of this week. Senate Negotiates Over 60 Amendments to GENIUS Act According to respected journalist Eleanor Terrett on X,
