117 Million XRP Transferred by Several Largest Exchanges

117 Million XRP Transferred by Several Largest Exchanges

According to the popular blockchain service Whale Alert that offers data on large crypto transactions in various cryptocurrencies, several large players from the crypto industry shoveled a large amount of XRP tokens – almost 120 million of them.

117 million transferred by some of largest exchanges

As per the data shared by Whale Alert, over the past fifteen hours, several major crypto transfers were performed by large crypto trading platforms – Binance, Bitfinex and a few others.

The largest lump of XRP – 50 million – was moved by Binance to the custodial platform BitGo and wired ten million XRP to another small exchange.

Bitfinex shifted 31,999,990 XRP to the Bitstamp exchange. In its turn, Bitstamp also sent 25,029,660 XRP to BitGo.

The overall fiat equivalent of the transacted amount of XRP is $127,884,027.

As reported by U.Today on September 15, Binance was also involved in transferring 100 million XRP together with the Ripple distributed ledger tech provider.

Coinbase refuses to relist XRP

As covered by U.Today previously, the largest US-based crypto exchange Coinbase has recently rejected the rumors of relisting the Ripple-affiliated XRP coin on its Coinbase Pro platform. The exchange suspended XRP trading in January this year after the US Securities and Exchange Commission in December initiated a legal suit against Ripple Labs and two of its top-ranking executives – Bradly Garlinghouse and Christopher Larsen – for allegedly selling unregistered securities, XRP, to institutional investors.

SEC threatens to burn Coinbase’s heels

Notably, Coinbase itself has recently got in trouble with the SEC as the securities regulatory agency threatened to sue it over the yield product that it plans to offer customers soon. The SEC stated that the lending product that Coinbase intends to launch is an “unregistered security”.

Head of Coinbase, Brian Armstrong, has stated that this unfriendly move of the SEC against Coinbase shows its attitude to the whole innovative crypto industry. The curious fact is that numerous other crypto companies offer lending products to their clients but only Coinbase has become target for the SEC’s subpoena. Coinbase, however, complies to all of the agency’s demands.

Still, Ripple CTO David Schwartz recently tweeted that he cannot relate the present case of the Coinbase with Ripple’s own brought up by the SEC in December 2020.