January 28, 2023

The Whale Alert cryptocurrency tracking bot has identified 3 Ripple transactions totaling 512.1M XRP. Ripple, the financial technology behemoth, carried them out, and wallets were deemed “unknown” by Whale Alert.

XRP is Moving in Record Levels

Based on the cryptocurrency tracker Whale Alert, at least 3 large XRP transfers have occurred in the previous 20-hours. The Ripple behemoth transferred 50M XRP to its backup wallet RL18-VN, frequently used to send cryptocurrency outside the corporation — to charity, exchanges, and investment firms.

The remaining 2 XRP-affiliated tokens included 235,725,280 and 226,439,980 XRP valued $170,121,600 and $163,244,540, respectively. The total value of the moved Ripple amount is around $370M. While Whale Alert labels the senders and recipients of these 2 Ripple sums as “unknown,” Ripple-focused data portal Bithomp indicates the two cases, the sender and recipient were the Uphold cryptocurrency exchange, which transferred the cash internally.

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Ripple CEO Opposes Cryptocurrency Tribalism

During an earlier discussion with CNBC, Brad Garlinghouse, the CEO of Ripple Labs, slammed the cryptocurrency company’s tribalism, calling it a serious matter that stifles the satellite’s growth. On his own, Garlinghouse owns several ETH and BTC, but he also owns Ripples. Garlinghouse used to work for Yahoo, where he witnessed several businesses that worked well together in the 1990s.

The absence of synchronization between the heads of cryptocurrency businesses and groups and the absence of sufficient governance from United States officials has left Garlinghouse stunned, as he confessed earlier this year.

From December 2020, Ripple Labs was fighting the Securities and Exchange Commission in a case initiated by the regulatory authority, and Garlinghouse has indicated on numerous occasions that the Securities and Exchange Commission’s purpose is to impose stringent regulation on the whole cryptocurrency industry and that Ripple has been used as a martyr.

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Crypto-Political Polarization: A Statement by Ripple CEO

According to Brad Garlinghouse, Maximalism is a big roadblock for the sector. It’s not good for the Bitcoin market to be polarized based on the 51-year-old CEO. Garlinghouse, who owns ETH and BTC, thinks that several cryptocurrencies may prosper; that’s the reason tribalism has no role in the cryptocurrency world.

Several businesses were successful at prospering concurrently amid the dot-com saga during the late 1990s since they were centered on different issues, according to the previous Yahoo executive that also directed team members at AOL.

On the legislative stage in Washington, DC, the CEO was especially worried about the absence of partnership among BTC executives. This absence of collaboration, according to Garlinghouse, is extraordinary.

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Several people were mad at Ripple after the United States SEC filed it during the late period in 2020. Ripple said that the SEC had chosen outcomes when it sent a letter to investors in late 2020. Proponents of the Ripple movement, on the other hand, think that by purportedly clarifying the leading 2 cryptos, the Securities and Exchange Commission has made an unequal competitive landscape for smaller projects.

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