SEC To Declare XRP as Official US Strategic Reserve Asset? Community Says ‘Fake News’

A viral fake rumour swept the internet yesterday, and the crypto community did not keep calm. Rumors claimed that the SEC was set to declare XRP as an official U.S. strategic reserve asset, with a major announcement seemingly coming from Paul Atkins at 1:00 PM EST.

However, the XRP community quickly called for sources, as there was no official confirmation or announcement regarding this development. “So in less than 30 minutes we will hear that XRP is the strategic reserve?” a user questioned, which showed skepticism. 

In a recent interview with Bloomberg Markets, Ripple CEO Brad Garlinghouse Brad Garlinghouse   Brad Garlinghouse is an American businessman and a major crypto influencer. He is the CEO of Ripple Labs, which offers cryptocurrency and blockchain solutions. Brad has also worked at Hightail, AOL, and Yahoo in prominent positions.   Ripple Labs has backed several blockchain startups and investors to grow decentralized finance. Brad sees crypto as a tool for financial freedom and has worked with other influencers in this regard.   Quick Facts   Full Name Bradley Kent Garlinghouse Birth 06-02-1971, in Topeka, Kansas Nationality American Education Bachelor's degree in Economics, MBA from Harvard Business School. Net Worth $10B (Refer here)   Ripple's native token, XRP is among the top digital assets. As per CoinGape, Brad's company has $100 billion worth of XRP tokens in its reserve. This will help further innovation in Web3 and blockchain projects. As per reports surfing on Binance’s blog, Brad Garlinghouse may step down as CEO of Ripple to join the Crypto Advisory Council, which is led by President Trump. This significant event will boost the adoption of decentralized finance and blockchain growth.   Brad Garlinghouse: Trivia   2007: Served as Senior VP at Yahoo!, heading communications and consumer products. 2012: Became CEO of Hightail, leading digital file-sharing innovations. 2015: Joined Ripple as COO to push blockchain adoption in cross-border payments. 2017: Became CEO of Ripple, driving XRP adoption and blockchain partnerships. 2020: Led Ripple’s defense against the SEC lawsuit over XRP’s security status. 2021: Expanded Ripple’s ODL (On-Demand Liquidity) network for global crypto payments. 2023: Got a partial success against the SEC, declaring XRP as not a security. 2024: Continue leading Ripple in CBDC collaborations and global blockchain finance. 2025: May join Trump's Crypto Advisory Council to set regulations.   Notable Works & Achievements by Brad Garlinghouse   Year Achievements Details 2003 Wrote the 'Peanut Butter Manifesto' at Yahoo! Highlighted Yahoo!'s lack of focus in operations. 2015 Joined Ripple as Chief Operating Officer Took measures to integrate blockchain technology into banking systems. 2017 Appointed CEO of Ripple Expanded Ripple's global partnerships, enhancing cross-border payment solutions. 2020 Named in Forbes' List of Wealthiest in Cryptocurrency Recognized for significant contributions to the crypto industry. 2023 Legal Victory in SEC vs. Ripple Case Achieved a favorable ruling impacting cryptocurrency regulations.   Useful Links To Connect with Brad Garlinghouse   Platform  Link X (formerly Twitter) https://twitter.com/bgarlinghouse LinkedIn https://www.linkedin.com/in/bradgarlinghouse Ripple’s Website https://ripple.com/leadership/brad-garlinghouse/     EntrepreneurInvestorChief Executive OfficerBoard Member expressed optimism about XRP’s future, suggesting that it could be included in the White House’s proposed digital asset stockpile. He also expressed confidence that an XRP ETF will launch by the end of the year.

ProShares XRP ETF Not Launching On April 30

XRP led the altcoin rally yesterday, gaining over 7%, following the SEC’s approval of ProShares’ XRP Futures ETFs. However, Bloomberg ETF analyst James Seyffart clarified that there is no official launch date yet. The false reports were based on an outdated regulatory filing, which led to widespread confusion online.

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•   Two Key Dates for XRP: May 1st and June 9th, Here’s Why
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He said that a launch is expected in the near future. ProShares also confirmed that no ETF launches are scheduled for April 30. Meanwhile, the SEC has yet to approve any spot Ripple ETF applications, with firms like Grayscale, Bitwise, and Franklin Templeton still waiting for a decision.

Polymarket, a crypto-betting platform, now gives a 78% chance of a U.S. XRP spot ETF approval by December 2025, down from 87% in March but up from 68% in April. XRP is currently trading at $2.28, down slightly by 0.2% in the last 24 hours, but up 9.5% over the past week.

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