Ripple giant has taken part in moving a staggering amount of XRP tokens, sending crypto to these platforms
Fintech giant Ripple and a few major digital exchanges moved 115.3 million XRP coins, with the San Francisco-based tech company moving more than half of the total amount.
Ripple moves 70 million XRP out of 115 to its ODL platform
Approximately 15 hours ago, Ripple blockchain behemoth was spotted making two substantial transfers of 70 million XRP in total. These transactions carried 50,000,000 and 20,000,000 of Ripple-affiliated tokens.
According to the Bithomp XRP-focused data provider, one of Ripple’s reserve wallets, RL18-VN, was engaged in both transactions. It was the destination for 50 million XRP, and from there, 20 million coins were sent to Coins.ph, a Ripple-powered on-demand liquidity platform operating in the Philippines.
The rest of the abovementioned XRP amount was sent from Bittrex to Bitstamp (30,000,000 coins) and by Coinone exchange (15,335,267 XRP).
The aggregate sum of XRP shoveled by Ripple and exchanges constitutes $74,814,502 in fiat.
Potential SEC win will hardly impact Ripple’s business: CEO
In a recent interview with Bloomberg covered by U.Today, Ripple chief executive Garlinghouse stated that the company is already operating as if the legal case with the SEC has been lost, meaning that the potential victory of the regulator over them will hardly have a big impact on the company’s business.
The CEO said that so far 2022 has seen the strongest growth for Ripple outside of the United States, with the company hiring many new employees. According to the interview, 99% of Ripple’s customers are based outside the United States.
This is happening while the XRP token affiliated with the company has almost no liquidity in the U.S. after a large number of both leading and small exchanges suspended XRP trading in 2021 after the legal complaint by the SEC was filed, accusing Ripple, its CEO and one of its founders of trading “unregistered securities” in the form of XRP.
The Ripple boss believes that this fight with the SEC is not just about Ripple, as it hurts the entire crypto industry. Furthermore, he accused the regulatory agency’s attorneys of hiding notes related to the case while claiming they are all for transparency and disclosure, adding that the SEC is doing its best to delay justice in this case.
