Ripple Co-Founder Chris Larsen’s XRP Holdings Raise Eyebrows

Large XRP Holdings Held by Chris Larsen

Crypto sleuth ZachXBT has brought to light that Ripple co-founder Chris Larsen’s XRP addresses still hold approximately 2.7 billion XRP, valued at around $7.18 billion. This revelation has sparked concerns within the crypto community, particularly given that several of these addresses have been inactive for 6-7 years.

XRP Addresses and Recent Activity

ZachXBT pointed out that in January, these addresses moved over $109 million worth of XRP to various crypto exchanges, including Coinbase, Bitstamp, and Bybit. However, it remains unclear whether the transferred XRP was sold. Notably, Larsen’s wallet was hacked in 2022, resulting in a loss of around $112 million.

Previous Concerns Over Potential XRP Dumping

This is not the first instance where Chris Larsen’s wallet activity has raised concerns about potential XRP dumping. In September 2020, Larsen transferred approximately 500 million XRP (valued at around $115 million at the time) to an unknown wallet. Larsen claimed that this transfer was to the custody provider NYDIG to enhance the security of his holdings. However, some community members speculated that this arrangement could facilitate discreet XRP sales, although no concrete evidence supports these claims.

I moved an $XRP wallet to NYDIG. I’ve known the founders for a while, and am impressed by their security and top-notch institutional standards — this is truly custody 2.0.

Key Points to Consider

  • Ripple co-founder Chris Larsen’s XRP addresses hold approximately 2.7 billion XRP, valued at around $7.18 billion.
  • Several of these addresses have been inactive for 6-7 years.
  • In January, the addresses moved over $109 million worth of XRP to crypto exchanges.
  • Larsen’s wallet was hacked in 2022, resulting in a loss of around $112 million.

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