Ripple Chairman Chris Larsen transferred 20 million XRP from a previous token shuffle of 50 million.
Ripple Chairman Chris Larsen recently transferred 20 million XRP from a prior shuffle of 50 million tokens.
Speculation points to Binance as the likely recipient based on the history of past transactions linked to the address, though confirmation is still pending.
XRP Whales Stir with Larsen’s Large Transfers
On September 16, one of Larsen’s wallets made a significant transfer of 50 million XRP—the first major movement since the wallet’s creation in 2013.
This transaction activated a new address with 11 XRP before sending the 50 million tokens, part of which was recently transferred to another wallet.
Whales Make Waves: 40M XRP Moved Within an Hour
In a series of transactions on September 20, the address rao…gzS transferred 20 million XRP in four batches, each comprising 5 million tokens, to an unknown wallet, rHo…Spm, between 18:25 and 18:30 UTC.
Despite these movements, rao…gzS retains 30 million XRP from the initial 50 million received.
The destination wallet rHo…Spm currently holds the 20 million XRP, but its transaction history indicates it may soon be sold on the market.
Recently, U.S. Vice President Kamala Harris announced crypto-related discussions to engage with cryptocurrency advocates.
Ripple’s Executive Chairman Chris Larsen, alongside notable business figures like Anthony Scaramucci, voiced support for these efforts, with Scaramucci noting this as a positive step for the industry.
XRP Hack Concerns Amid Binance Transfers
The address in question is known for receiving large amounts of XRP, holding it temporarily, and then transferring it to Binance.
This has led many to suspect that Larsen’s recent 20 million XRP transfer could be destined for Binance.
Others have speculated that these transfers might be linked to a potential hack. In February, a similar transfer from another of Larsen’s wallets led to 212 million XRP being stolen by hackers.
However, rumors of a new hack seem doubtful, as the first transaction took place nearly five days ago, and Larsen has not reported any security breach.
Meanwhile, tokenization of Real World Assets (RWA) is gaining momentum as major industry players shift their focus to this emerging trend.
During the Breakpoint 2024 conclave, SkyBridge Capital founder Anthony Scaramucci emphasized that tokenization would play a significant role in transaction verification, with Solana playing a pivotal part in the future of tokenized assets.
