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

ChainCatcher message, according to The Block, on-chain analyst ZachXBT pointed out that since July 17, a wallet long associated with Ripple co-founder Chris Larsen has transferred 50 million XRP. This wallet appears to have moved approximately $140 million worth of tokens to three addresses related to trading platforms, while another 10 million XRP has been deposited into two newly created wallets. The address controlled by Chris Larsen still holds about 2.81 billion XRP, valued at approximately $9 billion.

The U.S. SEC previously accused Ripple in 2020, alleging that its CEO Brad Garlinghouse personally cashed out $150 million worth of XRP over three years. The SEC also stated that Larsen and his spouse sold tokens worth $450 million between 2017 and 2020.