Blockchain Firm Continues Legal Battle with SEC as CEO Prepares for White House Summit
Ripple Labs has announced its involvement in launching a nonprofit organization dedicated to educating the public on cryptocurrency and its impact on businesses and individuals. The firm will provide a $50 million grant to fund the initiative.
National Cryptocurrency Association Formed
In a post on X (formerly Twitter) on 5 March, Ripple’s chief legal officer Stuart Alderoty revealed he would serve as president of the newly formed National Cryptocurrency Association (NCA) while continuing his role at the blockchain firm. Ripple CEO Brad Garlinghouse confirmed that the company would provide financial backing for the nonprofit.
According to the NCA’s official website, the association aims to help Americans understand the benefits of cryptocurrency adoption through educational initiatives and shared experiences. While the group has not explicitly stated any political ambitions, it has emphasised its focus on keeping the public informed on future developments within the crypto sector.
Ripple’s Political Involvement
Ripple has actively engaged in political efforts related to cryptocurrency regulation. The firm contributed $45 million to Fairshake, a political action committee aimed at influencing US voters in the 2024 election. Additionally, Alderoty personally donated $300,000 to a committee supporting former US president Donald Trump. Both Alderoty and Garlinghouse met with Trump at his Mar-a-Lago residence in January and attended official events in Washington, DC.
The NCA is registered as a 501(c)(4) organisation in the United States. According to legal firm Skadden, Arps, Slate, Meagher & Flom, such organisations can accept unlimited corporate and personal donations and are frequently involved in lobbying and political advocacy. They are not required to disclose donor information.
Ripple’s Ongoing SEC Battle
The launch of the NCA comes amid a shifting regulatory landscape in the US under the Trump administration, which has led to the dismissal of several high-profile lawsuits against crypto firms. The Securities and Exchange Commission (SEC) recently dropped cases against Coinbase, Cumberland DRW, and Consensys. However, the regulator has not withdrawn its appeal against Ripple following a $125 million judgment.
Despite the ongoing legal battle, Garlinghouse and Alderoty maintain strong connections with US government officials. The Ripple CEO is scheduled to attend a cryptocurrency summit at the White House on 7 March. Furthermore, the US president has announced plans to include Ripple’s XRP token in a proposed national crypto stockpile, a move that has raised legal and industry concerns.
Ripple has yet to comment on the implications of the SEC’s continued legal action. At the time of publication, Alderoty had not responded to requests for further statements.
