- Ripple co-founder Chris Larsen and other insiders unlocked 1 billion XRP tokens following Trump’s crypto reserve announcement, with $140 million transferred to Bithumb exchange.
- Dormant addresses activated by Larsen still hold approximately $7 billion worth of XRP, though ownership status remains unclear.
- XRP price surged 28% within two hours after Trump announced plans to include pre-mined tokens like XRP, ETH, SOL, and ADA in a U.S. sovereign reserve.
Researchers have uncovered blockchain evidence showing Ripple insiders moving significant XRP holdings just after Donald Trump announced plans to include the cryptocurrency in a U.S. national reserve. Addresses linked to Chris Larsen and other Ripple executives unlocked 1 billion XRP over the weekend, with $140 million subsequently transferred to the Bithumb cryptocurrency exchange.
Forensic blockchain investigator ZachXBT reported that previously dormant addresses activated by the Ripple co-founder still contain approximately $7 billion worth of XRP. However, analysts cannot definitively confirm whether Larsen maintains full ownership of these tokens or if any Ripple founders or early investors have liquidated positions following Trump’s announcement.
It’s important to note that cryptocurrency transfers to exchanges don’t necessarily indicate selling intentions. Exchanges typically combine customer funds, which effectively prevents tracking subsequent transactions once tokens enter the exchange ecosystem.
The timing of these large XRP movements has raised eyebrows in the cryptocurrency community. The unlocking of over 1 billion XRP from long-dormant escrow wallets generated automated notifications that quickly went viral. While some observers expressed skepticism about the timing coinciding with Trump’s announcement, alternative explanations exist – these tokens could be re-locked in escrow or transferred without being sold.
ZachXBT noted that Larsen might have “lost access to some of these addresses” or potentially gifted XRP to others as far back as February 2013. Notably, Larsen experienced a significant security breach in January 2024, losing over $110 million in what he described as “unauthorized access to my XRP accounts.”
The former president’s announcement of a sovereign crypto reserve including pre-mined tokens like XRP, ETH, SOL, and ADA triggered substantial market movement, with XRP specifically experiencing a 28% price surge within just two hours. Critics have pointed to potential conflicts of interest in this policy proposal.
Ripple has previously disclosed scheduled monthly escrow release transactions that could explain these recent token movements, though the timing relative to Trump’s announcement has fueled speculation throughout the cryptocurrency market.
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