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

On July 25th, according to The Block, blockchain analyst ZachXBT stated that since July 17th, a wallet long associated with Ripple co-founder Chris Larsen has transferred 50 million XRP. The wallet appears to have transferred approximately $140 million of the 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 approximately 2.81 billion XRP, worth around $9 billion. The US SEC previously sued Ripple in 2020, accusing its CEO Brad Garlinghouse of personally cashing out $150 million in XRP over three years. The SEC also stated that Larsen and his spouse sold tokens worth $450 million between 2017 and 2020.