Ripple Co-Founder Chris Larsen's XRP Transfers Revealed

According to Foresight News, blockchain investigator ZachXBT has disclosed that since July 17, an address long associated with Ripple co-founder Chris Larsen has transferred 50 million XRP. Approximately $140 million worth of these tokens have been moved to three addresses linked to trading platforms, while an additional 10 million XRP have been deposited into two newly created wallets. The address controlled by Larsen still holds about 2.81 billion XRP, valued at approximately $9 billion. Previously, the U.S. Securities and Exchange Commission (SEC) accused Ripple's CEO Brad Garlinghouse of personally cashing out $150 million worth of XRP over three years during its lawsuit against Ripple in 2020. Additionally, Larsen and his spouse reportedly sold $450 million worth of tokens between 2017 and 2020.