Millions of XRP Suddenly Moved to Bitstamp, Here's What Happened
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.
As reported by Whale Alert crypto tracking start-up, less than an hour ago, an anonymous whale transferred 30,000,000 XRP to the EU-based Bitstamp crypto exchange.
Over the past 24 hours, XRP token has lost approximately 7% of its price, according to CoinMarketCap.
Here's who shoveled XRP to Bitstamp
The transaction was made from a wallet that the aforementioned blockchain tracker marked as "unknown." Data shared by XRP-focused platform Bithomp shows that the funds came from BitGo.
This is the biggest crypto custodial service in the U.S. that works with institutional clients and also as a crypto exchange. Last year, founder of Galaxy Digital and former Goldman Sachs partner Mike Novogratz announced that his crypto bank would acquire BitGo to expand Galaxy Digital's impact in the crypto space.
However, in the fall, several months after the initial announcement, Novogratz backed out of the deal with BitGo.
🚨 30,000,000 #XRP (11,428,059 USD) transferred from unknown wallet to #Bitstamphttps://t.co/c87pBNptd0
— Whale Alert (@whale_alert) November 28, 2022
Tomiwabold OlajideDavid Gokhshtein extends his support for Ripple
Prominent crypto enthusiast and entrepreneur David Gokhshtein has XRP among the assets he supports and tweets about on a regular basis.
Last week, he took to Twitter to share why he expects Ripple to beat the SEC regulator in court in the end. The first reason was that this victory would certainly provide regulatory clarity for the whole crypto space. The SEC has often been accused of a lack of regulatory clarity, despite suing Ripple and other crypto companies recently.
The second reason is that Gokhshtein wants the XRP army, which has been waiting for the outcome of the legal battle between these two giants, to be rewarded.
I hope Ripple wins for two reason.
— David Gokhshtein (@davidgokhshtein) November 25, 2022
1 - Clarity for the #crypto industry.
2 - $XRP community that fought hard and stood their ground get rewarded.
Related articles
Arman Shirinyan
Gamza Khanzadaev
U.Today Editorial Team
Vladislav Sopov
Dan Burgin