Genesis-era XRP unlocked, sent to exchange after Trump endorsement
After Donald Trump announced that the US crypto reserve will hold a basket of digital assets, including the overwhelmingly pre-mined and insider-allocated XRP, researchers started looking for blockchain evidence of insider trading. Curiously, they found that addresses activated by Chris Larsen and other Ripple insiders unlocked 1 billion XRP tokens over the weekend and transferred $140 million to the Bithumb crypto exchange. Moreover, previously dormant addresses activated by the Ripple co-founder still hold approximately $7 billion worth of XRP, according to forensic journalist ZachXBT. Despite the size of these wallets, it’s not clear whether Larsen still owns all of these tokens without encumbrances, nor is it clear that any Ripple co-founder or ICO investor has sold amid Trump’s announcement. Movements of coins to exchanges can be, but are not necessarily, an indication of intent to sell. Exchanges typically commingle customer funds and prevent the tracing of sub...