President Trump made a joke about helping Kamala Harris with her $20M campaign debt by hinting at possibly selling out the donated XRP (Ripple’s crypto), only if the SEC drops its case against Ripple. A legal expert named Marc Fagel said Harris can actually legally sell her XRP without SEC hassle as she’s a retail holder and not some random issuer. If the SEC backs off, XRP’s price might surge, potentially helping her cover debts.
Newly elected President of United States, Donald Trump trolled Vice President Kamala Harris who is reportedly struggling in her presidential campaign. Trump offered a help regarding her reported $20 million debt, and this one involves XRP, the digital currency linked to Ripple.
Trump’s known for his sharp comments and playful humor, he made this offer to the GOP suggesting they “do whatever we can do to help them” with Harris’ outstanding campaign debt. This prompted a regular user to suggest that if Harris could sell some of her donated XRP (Ripple’s cryptocurrency), she might be able to cover a significant chunk of the debt. The main motive behind this is to drop all the SEC charges against Ripple and its XRP, which could result in enough rise of the token to help her pay off the full amount.
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Marc Fagel, a former SEC lawyer stepped in stating that any XRP sales would be exempt from SEC registration, provided they aren’t tied to the issuer (Ripple). He further clarified that Harris was actually a retail holder of XRP which means she would not need to worry about SEC regulations if she sold the token. The SEC’s focus is on Ripple as the issuer, so she wouldn’t face Ripple’s regulatory issues if she sold her XRP.
One of the Ripple’s co-founder Chris Larsen even donated $10 million worth of XRP to a fund to financially support Kamala Harris on her political efforts. This fund could helped her massively with campaign-related expenses.