Ripple co-founder Chris Larsen sends roughly $140 million in XRP to exchanges over seven days

ChainThink reports, July 25th. According to The Block, on-chain analyst ZachXBT pointed out that since July 17th, a wallet long associated with Ripple co-founder Chris Larsen has transferred 50 million XRP. The wallet appears to have moved around 140 million US dollars worth of tokens to three addresses related to exchanges, and an additional 10 million XRP has been deposited into two newly created wallets. The address controlled by Chris Larsen still holds about 2.81 billion XRP, valued at around 9 billion US dollars.

Earlier, the US SEC had alleged in 2020 when suing Ripple that its CEO Brad Garlinghouse personally cashed out 150 million US dollars worth of XRP over three years. The SEC also stated that Larsen and his spouse sold tokens worth 450 million US dollars between 2017 and 2020.