On-chain crypto sleuth ZachXBT just alerted the crypto community to the fact that XRP addresses activated by Chris Larsen still hold $7.18 billion worth of XRP.
ZachXBT just posted in his personal Telegram investigations group, alerting his followers to the fact that Ripple (XRP) addresses activated by Ripple co-founder Chris Larsen still hold over 2.7 billion XRP, worth approximately $7.18 billion. According to ZachXBT, several of these addresses have been dormant for 6-7 years.
ZachXBT’s reminder comes on the heels of the recent announcement by President Donald Trump that XRP, along with Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and Cardano (ADA), would be included in a new U.S. strategic crypto reserve.
ZachXBT also pointed out that these addresses moved over $109 million worth of XRP to crypto exchanges, including Coinbase, Bitstamp, and Bybit, in Jan. However, whether the moved XRP was actually sold is unknown. ZachXBT also noted that Larsen had been hacked early last year, resulting in a loss of approximately $112 million.
This is not the first time Chris Larsen’s wallet activity sparks concerns over potential XRP dumping. In Sep. 2020, Larsen transferred approximately 500 million XRP (worth around $115 million at the time) to an unknown wallet. Larsen said that this transfer was to the custody provider NYDIG with the aim of beefing up the security of his holdings. However, some community members speculated that such custodial arrangement might facilitate discreet selling of XRP, though no concrete evidence has substantiated these claims.
As some of you may have noticed, 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. Check them out at https://t.co/lbr8bG1kEe
— Chris Larsen (@chrislarsensf) September 22, 2020
