Ripple co-founder Chris Larsen has puzzled the community with another series of XRP transfers that took place on Monday.
The 64-year-old billionaire sent 3 million XRP tokens to Binance and 15 million tokens to a Bittrex-activated wallet.
The recent transfers have baffled the XRP community, with many speculating about their intended purpose.
Some community members have half-jokingly speculated that he might want to buy another Porsche supercar. Larsen is known for his automotive swagger. Last year, the Ripple co-founder attracted some social media attention with his Porsche 918 Spyder, the modern-day Porsche icon whose owners are expected to pay seven figures.
Larsen is also a prolific political spender. The entrepreneur has been heavily involved in San Francisco's political life, forking out millions of dollars on donations to various politicians.
Alex DovbnyaRecently, the Ripple co-founder also spearheaded the funding round for the cryptocurrency-based decentralized clearing network Yellow alongside such backers as Consensys and Moonrock Capital.
Larsen has also famously invested in plenty of security cameras that have been installed across San Francisco.
As one of the co-founders of Ripple, Larsen received 5.19 billion XRP tokens. Following XRP's massive rally in early 2018, he became one of the richest people on the planet. Even though the token is far from its lifetime peak, Larsen still has an estimated net worth of $3.2 billion, which makes him one of the richest crypto personalities.
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.
Tomiwabold Olajide
Gamza Khanzadaev
Dan Burgin