Crypto sleuth ZachXBT recently brought to light the fact that XRP addresses activated by Chris Larsen still hold a staggering $7.18 billion worth of XRP. These addresses, which have been dormant for 6-7 years, continue to house over 2.7 billion XRP tokens. ZachXBT shared this information on his personal Telegram investigations group, sparking curiosity and concern within the crypto community.
The timing of this revelation coincides with President Donald Trump’s announcement of including XRP in a new U.S. strategic crypto reserve alongside other major cryptocurrencies like Bitcoin, Ethereum, Solana, and Cardano. The significant amount of XRP held in these addresses raises questions about the potential impact on the market if these tokens were to be sold.
In January, ZachXBT noted that these XRP addresses associated with Chris Larsen had transferred more than $109 million worth of XRP to various crypto exchanges, including Coinbase, Bitstamp, and Bybit. However, it remains unclear whether these tokens were liquidated or are still being held. Additionally, ZachXBT highlighted that Larsen had fallen victim to a hack last year, resulting in a loss of around $112 million.
This is not the first time Chris Larsen’s wallet activity has caused speculation within the crypto community. In September 2020, Larsen transferred 500 million XRP to a custody provider, NYDIG, citing enhanced security measures for his holdings. While Larsen emphasized the security standards of NYDIG, some community members raised concerns about the potential for discreet selling of XRP through custodial arrangements.
Despite Larsen’s reassurances about the purpose of these transfers, the ongoing presence of a substantial amount of XRP in his addresses continues to attract attention and scrutiny. The crypto community will be closely monitoring any future movements or activities related to these addresses to assess their potential impact on the market and the broader XRP ecosystem.