This $7 Billion In XRP Linked to Ripple Chairman Chris Larsen Sparks Discussion

Blockchain investigator ZachXBT has drawn attention to substantial XRP holdings linked to Ripple Chairman Chris Larsen, sparking discussions within the crypto community.

The disclosure follows the U.S. government’s recent announcement of a national cryptocurrency reserve, which includes XRP alongside Bitcoin, Ethereum, Solana, and Cardano.

The inclusion of XRP in the reserve has generated controversy, particularly among Bitcoin advocates who argue that assets issued by centralized entities should not be part of the U.S. strategic holdings. Larsen’s significant XRP reserves have further fueled the debate, raising questions about control and market influence.

Larsen’s XRP Holdings and Transactions

ZachXBT’s investigation identified multiple XRP wallets attributed to Larsen, originally activated in 2013 with a combined balance exceeding 2.7 billion XRP, valued at over $7 billion. While many of these wallets have been inactive for years, some recent movements suggest ongoing activity.

One wallet, identified as “rhR…tjna,” saw renewed activity in September 2024, transferring 50 million XRP on September 16, followed by another 20 million tokens five days later. This wallet had offloaded 40 million XRP in January alone, bringing the total sales since September 2024 to 60 million XRP.

At the time of the January report, the wallet’s balance stood at 410 million tokens. However, within hours of the report’s publication, another 10 million XRP was moved, reducing the balance to 400 million tokens.

Another notable wallet, labeled “rPo…K2k,” recorded major transfers in 2018, leaving a balance of 300 million XRP, which has remained untouched for the past seven years. Additionally, four other wallets under Larsen’s control contain 500 million XRP and have not seen any activity since they were created.

ZachXBT also referenced a security breach in early 2024, in which Larsen reportedly lost $112 million worth of XRP due to a hack, an incident he confirmed.

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Debate Over the U.S. Crypto Reserve

The timing of ZachXBT’s report has intensified debates regarding the U.S. government’s decision to include XRP in its strategic reserve. President Donald Trump’s March 3, 2025, announcement of the reserve led to an immediate 28% surge in the token’s price.

Critics, including Bitcoin-focused figures like Will Baxter, vice president at Braiinsmining, have voiced concerns over XRP’s centralized nature and the concentration of holdings by figures like Larsen and Ripple executives. Bitcoin proponents argue that assets with centralized issuers contradict the decentralized principles that should guide national crypto reserves.

Michael Saylor, a prominent advocate for Bitcoin, responded to Trump’s announcement by reaffirming his belief in Bitcoin’s supremacy, stating, “Bitcoin is the foundation of the crypto economy.” His statement echoes the concerns of many in the Bitcoin community, who see the inclusion of XRP as a move away from decentralization.

Meanwhile, some crypto commentators on X have challenged the notion that Bitcoin should be the sole reserve asset, citing its origins and the anonymity of its creator, Satoshi Nakamoto, as potential security risks. Meanwhile, Ripple CEO Brad Garlinghouse has defended XRP’s inclusion, stating that a diversified reserve enhances the financial security of the United States.

The controversy surrounding Larsen’s XRP holdings and their potential influence on the market remains a focal point in the broader debate over the future of crypto in national reserves.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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