Main navigation

80 Million XRP Shifted by FTX Giant, Here's Where Money Goes

Wed, 09/28/2022 - 11:41
article image
Yuri Molchan
Monstrous amount of XRP has been moved from FTX exchange founded by billionaire Bankman-Fried
80 Million XRP Shifted by FTX Giant, Here's Where Money Goes
Cover image via

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

Whale Alert blockchain platform that tracks large cryptocurrency transfers has spotted roughly 253 million XRP transacted in five chunks.

The largest one, which carried 80 million XRP, was sent from major exchange FTX spearheaded by Sam Bankman-Fried, who has been expanding his influence in the crypto space lately.

80 million XRP sent from FTX, here's where it goes

Whale Alert detected a massive amount of XRP moved from an FTX exchange wallet and moved to an address tagged as "unknown" by the tracking service mentioned above.

However, a peek into data provided by XRP-focused Bithomp analytics platform shows that the money was transferred to the Binance exchange. This amount of XRP tokens at the moment is evaluated at roughly $35,564,493.

172.3 million XRP on move

As for the rest of the aforementioned amount of XRP that was shifted, according to Whale Alert, the sum (minus the 80 million moved from FTX) totals 172.3 million XRP.

This crypto was transferred by users of several crypto platforms – Bitstamp, Bittrex and the custodial service BitGo.

XRP Will Explode If This Happens, David Gokhshtein Repeats as He Considers Grabbing More XRP

Interest in XRP spikes as of late but is now losing gains

The XRP price has been growing recently on the expectations that the victory of Ripple Labs in court against the SEC is not far away. Ripple and its opponent have filed motions for summary judgement.

Based on this, the XRP community began betting on their favorite company's win after two long years of legal battles. On these expectations, the price of XRP has reached a local high of over $0.5 recently.

Influencer David Gokhshtein, a former U.S. congressional candidate, believes that not only Ripple and the XRP price will skyrocket should the company win the case, but the whole crypto space will benefit from it.

However, chief of Ripple Brad Garlinghouse stated that the SEC is not interested in applying the law after the two parties had filed motions for summary judgement.

Still, over the past 12 days, XRP's price has lost 50%, erasing nearly all of its recent gains. Twenty percent of it was lost over the past 48 hours, and XRP has dropped below its 200-day moving average as a verdict in favor of Ripple has still not been made.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at