Ripple co-founder Chris Larsen has transferred approximately $140 million worth of XRP to a trading platform in the past 7 days

BlockBeats News, July 25th, according to The Block, on-chain analyst ZachXBT pointed out that since July 17th, a wallet long associated with Ripple co-founder Chris Larsen has transferred 50 million XRP. The wallet appears to have sent around $140 million worth of tokens to three addresses associated with exchanges, while another 10 million XRP has been deposited into two newly created wallets. The address controlled by Chris Larsen still holds around 2.81 billion XRP, worth approximately $9 billion.

Earlier, the SEC had accused Ripple's CEO Brad Garlinghouse of personally cashing out $150 million worth of XRP within three years when it sued Ripple in 2020. The SEC also stated that Larsen and his spouse sold $450 million worth of tokens between 2017 and 2020.