Transfer of $109 Million XRP Traced from Wallet of Ripple's Co-Founder Recorded on Blockchain
January 2025 - Ripple Co-founder Chris Larsen shifts a whopping $109 million in XRP to centralized platforms, according to blockchain investigator ZachXBT's findings. Caught your eyes? Well, you ain't seen nothing yet! Larsen's XRP addresses, which have been sitting idle for centuries, contain a staggering 2.7 billion XRP, worth a cool $7.18 billion, if we're talking current exchange rates.
But that's just a piece of the pie. Now, let's travel back to March 3, 2025. U.S. President Donald Trump stepped up the crypto game by pointing out XRP, Solana (SOL), and Cardano (ADA) as assets worth adding to the national crypto reserve. Talk about some mainstream recognition, ain't it?
So, we got Larsen hogging a massive chunk of XRP, and now Trump is eyeing this bad boy as a potential investment for the feds. Sounds like a bargain, right? Not so fast. Analyst Jeff Park, Head of Alpha Strategies at Bitwise, raises a red flag. Adding altcoins to the reserve could stir up a mess, with folks suspecting insider trading ain't too far off.
But hang on, the drama don't stop there. Carl Moon, the founder of The Moon Show, and other experts are pondering over potential indicators suggesting insider dealings. That's not all, folks. Solana, once touted as Ethereum's killer, has found itself mired in controversy due to rampant fraud, scams, insider trading, and pump schemes. Past scandals involving LIBRA, TRUMP, MELANIA, BARRON, and HAWK have dragged Solana's name through the mud. Yikes!
And here's an interesting tidbit: way back in January 2024, ZachXBT reported that he lost his cool $112 million in a hack. Ouch!
Now, if you're wondering about Chris Larsen's impact on the market, while massive XRP transfers by major holders can nudge the market, directly linking these actions to Ripple's reputation calls for specific strategic moves or market responses. And the jury's still out there on that one.
But don't go thinking Larsen's XRP stash is the end of the Ripple story. This fintech giant has weathered some heavy storms, particularly with the SEC, leaving doubts and concerns among investors. However, recent legal victories, like settling with the SEC, have given Ripple a leg up, boosting investor confidence and even inciting a surge in XRP's price. So, it seems Ripple's doing just fine, regardless of Larsen's big bags.
There you have it, folks. The wild ride of crypto, topped with a dash of drama and intrigue served hot! So buckle up, and prepare yourself for a rollercoaster of a ride, because ain't no tame rides in the world of cryptocurrencies!
- Despite Larsen's significant XRP holdings and recent transactions, the market's response to major XRP transfers by holders is not straightforward, as it requires specific strategic moves or market responses to directly link them to Ripple's reputation.
- As U.S. President Donald Trump considers adding XRP, Solana (SOL), and Cardano (ADA) to the national crypto reserve, the finance world eagerly watches, but concerns about insider trading and market manipulation persist, particularly in the case of Solana, given its history of scandals and controversial practices.
