Record 512 Million XRP Shifted By Ripple And Unknown Wallets: Report


Yuri Molchan

Ripple and Anonymous Whales transfer half a billion XRP

Contents

Record XRP amounts on the wayRipple CEO Criticizes Crypto-Tribalism

Whale Alert crypto tracking bot has detected three XRP transactions, totaling 512.1 million XRP. They were run by Ripple fintech behemoth and wallets that Whale Alert has marked as “unknown”.

Record XRP amounts on the way

Three staggering chunks of XRP have been transferred in the past twenty hours, according to the tweets posted by the crypto tracker mentioned above.

Ripple giant moved 50 million XRP – the smallest clump of the three – into its spare wallet RL18-VN often used for transferring crypto outside the company – to charities, exchanges and financial institutions.

The other two chunks of Ripple-affiliated tokens contain 226,439,980 and 235,725,280 XRP worth $163,244,540 and $170,121,600. The total equivalent of the shifted XRP amount is approximately $370 million.

Ads

Whale Alert has tagged the senders and recipients of these two XRP amounts as “unknown” addresses, but XRP-focused data platform Bithomp shows that in both cases, the sender and recipient was the Uphold crypto exchange that moved the funds internally. .

Image via Twitter

Ripple CEO Criticizes Crypto-Tribalism

In a recent interview with CNBC, Brad Garlinghouse, head of Ripple Labs, brushed off tribalism in the crypto industry, stating that this is a major problem of the space that is slowing its improvement on a large scale.

Garlinghouse himself owns Bitcoin and Ethereum, apart from XRP, and as a former executive at Yahoo, he saw many companies that managed to coexist well enough during the dotcom boom of the 1990s.

Now, Garlinghouse is shocked by the lack of coordination between the leaders of crypto companies and communities and the lack of adequate regulation by the US authorities, as he admitted in the interview.

Since December 2020, Ripple Labs has struggled to beat the SEC in the lawsuit filed by the regulatory body, and Garlinghouse has often stated that the SEC’s goal is to impose strict controls on the entire crypto space. , and they actually chose Wrinkle as the scapegoat.



Leave a Reply

Your email address will not be published.