Chris Larsen Moves 50 Million XRP To New Address

XRP crypto assets. (Photo; Doc. Bitcoinist)

JAKARTA Ripple boss, Chris Larsen, has again caused an uproar in the crypto market with major transactions he has made. He has just transferred 50 million XRPs, equivalent to around IDR 465 billion, to a new wallet that has not been identified. This transaction occurred on September 16, 2024, sparking speculation among digital asset enthusiasts.

The mysterious wallet that received this transfer was first recorded as active in February 2013, early in the development of XRP Ledger. Since then, this wallet has almost never been used, except for a small transaction at the end of 2017. This sudden activity certainly attracted attention, especially given the history of hacking that Larsen had experienced earlier this year.

Previous hacks cost Larsen more than 212 million XRP. However, blockchain analysis shows that this latest transaction was carried out directly by Larsen, not by hackers. This move seems to confirm that the control of his crypto assets is still safe.

So, where is the flow of funds that big? Speculation leads to political support. Larsen is known as a supporter of Kamala Harris, a presidential candidate from the Democratic Party. He was even listed as one of the 88 business figures who signed a letter of support for Harris.

Ripple's involvement in US politics is significant. The company is actively funding a pro-crypto political action committee (PAC). The goal is clear: encouraging the election of leaders who have a positive view of the digital asset industry.