Recently, some members of the XRP community claimed that U.S. presidential candidate Donald Trump may be holding a significant amount of XRP tokens.
This came amid revelation concerning the multi-million-dollar crypto asset portfolio Trump has acquired in the past few months. According to Arkham Intelligence, Trump’s crypto wallet was worth over $10.14 million as of Monday, May 27.
The wallet received a significant boost largely from the TRUMP meme coin, his largest holding, amid yesterday’s bullish market activities.
Following this update, an X user with the pseudonym “Matze XRP” presented a screenshot of an XRP wallet bearing the name “TrumpProductions,” asserting that the Republican presidential candidate holds XRP.
Per the screenshot, the supposed Trump wallet was activated by “Coastline” on Sunday, May 26, and had an initial balance of 33 XRP.
Claims of Donald Trump Holding XRP Under Scrutiny
Some community members have called attention to this claim. However, it is important to recognize that merely bearing the wallet tag “TrumpProductions” is not proof of Donald Trump’s ownership. In reality, XRP wallet names can be freely chosen by anyone.
Reputable figures in the XRP community, including the XRP Ledger validator Vet, have attested to this. A comparable situation occurred earlier this month when claims emerged about Elon Musk “testing” XRP payments for his social media platform X.
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In response to this speculation, the XRPL validator clarified that the labeling of accounts on wallet services is entirely unofficial, implying that there is no verification to adopt the names of public figures, including Donald Trump or Elon Musk, in naming accounts.
Essentially, this underscores the ease with which public figures’ names can be misleadingly associated with wallets for likely manipulative purposes.
Meanwhile, the XRPL developer community is actively working to resolve the issue of fraudulent identities. Vet has confirmed that the incoming Decentralized Identifier (DID) amendment will address this problem.
Currently, the amendment has reached a 34.29% consensus among validators, but it needs an 80% majority to be adopted.
Confirmed Crypto Assets Trump Holds
Arkham Intelligence data reveals that Donald Trump’s crypto holdings are predominantly meme-based assets, often received as donations backing his campaign. This is especially true since he has reiterated that his administration would be crypto-friendly if elected president.
The former U.S. president possesses 579,000 TRUMP meme coins, valued at $6.9 million, and 464.3 Ethereum tokens, worth $1.8 million. Other meme coins he holds with values exceeding $100K include CONAN and BABYTRUMP.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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