Ripple Co-Founder Chris Larsen Moves 75 Mln XRP to His Other Wallet

News
Wed, 06/17/2020 - 09:53
Yuri Molchan
Former Ripple CEO Chris Larsen was spotted wiring a gargantuan sum of 75 mln XRP to a wallet that was created by himself, according to analytical data
Cover image via ripple.com
Contents

As is clear from data shared by XRPL Monitor, earlier today, Ripple co-founder Chris Larsen wired a whopping 75 mln XRP between his wallets.

The data also shows that blockchain heavyweight Ripple also made a transfer for a substantial amount of XRP.

Related
Ripple Wires 160.3 Mln XRP, 30 Mln Goes to Anonymous Address

Ripple and Chris Larsen wire 86 mln XRP in separate sums

According to the XRPL Monitor, which tracks XRP transfers, just recently the DLT giant Ripple transferred eleven million of its XRP coins.

Earlier today, the company’s founder and former CEO Chris Larsen wired 75 mln XRP.

Image via Twitter

The Ripple transfer was conducted to a wallet set up by Ripple itself, although this was hidden behind several nicknames, as Bithomp showed.

Image via Twitter

Large XRP transfers like this do take place from time to time. Ripple does not bother to explain their purpose to the community. Many believe that the San-Francisco-based blockchain decacorn is merely dumping the coins into the market, to keep the price low.

Ripple gets the first bank to utilize RippleNet Cloud

The first bank to start leveraging the RippleNet Cloud is Brazilian Banco Rendimento, according to a recent Ripple article.

Other clients of Ripple, such as MoneyGram, Azimo, etc, have already been using RippleCloud successfully.

Over the past half-a-year, over eighty percent of the companies that joined RippleNet have begun using Ripple Cloud with around thirty percent of the RippleNet payments being sent using this new product.

By leveraging the RippleNet Cloud, the largest Brazilian bank, Banco Rendimento, expects to increase the volume of its customers’ payments by Q1 2021.

About the author

Yuri is a 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. ‘Hodls’ cryptocurrencies. Has written for several crypto media. Currently is a news writer at U.Today, can be contacted at yuri.molchan@u.today.


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