Former CEO of Ripple moves half a billion XRP

As the co-founder and former CEO of Ripple before resigning in 2016, Chris Larsen is currently the executive chairman of Ripple's board of directors.

Recently, Larsen admitted moving 500 million XRP to an unknown wallet, after Whale Alert announced the move on twitter.

499,999,979 XRP ($ 115,847,491) has been moved from Chris Larsen's wallet to an unknown wallet.

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The former Ripple CEO said he moved the XRP to the wallet address of a Manhattan company called New York Digital Investment (NYDIG).

According to research, this is a company operating in the field of electronic money, specializing in providing services to institutional investors in need.

There are many rumors that Chris Larsen is intending to sell XRP holding, but he quickly denied this.

“I sent XRP to NYDIG because I got acquainted with the founder of this company. This is a company with the top cryptocurrency security standards today, so I am quite assured, this is not a sale, but simply a deposit, "Larsen said.

In 2018, NYDIG was quite famous in many papers when it became one of the largest institutional investors investing in bitcoin.

The amount of BTC the company holds for now is unknown, although there are some rumors that it is no longer investing in BTC.