Ripple: Co-founder selling XRP worth millions?
According to XRPSCAN data, a wallet linked to Ripple co-founder Chris Larsen sent $26 million worth of XRP to Coinbase on Tuesday.
According to XRPSCAN data from XRPSCAN, a wallet linked to Chris Larsen, Ripple co-founder, sent $26 million worth of XRP to Coinbase on Tuesday. Officially there is no confirmation that the coins were actually sold, but as is common in the crypto world: if you send to a centralized exchange, you're rarely thinking charitable.
This isn't the first time Larsen's wallet has moved this year. Earlier he sent over 106 million XRP — worth $344 million at the time — to exchanges and other wallets. And XRP has been one of the top performers in the altcoin market, recently hitting a new all-time high.
The revival of XRP along with other so-called "dino-coins" like Litecoin and Tezos is viewed by some analysts as a sign of a renewed retail investor interest. But Larsen's trips to Coinbase could throw a wrench into that.
Chris Larsen, a tech investor and political activist, founded Ripple in 2013 with the mission of making international payments faster and cheaper via blockchain technology. In 2016 he handed the CEO role to Brad Garlinghouse, but stayed on as Executive Chairman.
His popularity in the crypto community took a hit when it came to light that he donated $10 million to Kamala Harris' campaign, a politician seen by crypto circles as less friendly than, for example, Donald Trump.
According to XRPSCAN, Larsen still holds about 2.6 billion XRP across several wallets, worth over $8.3 billion. A sizable stash and a potential threat to the market if and when he hits the sell button.
