Ripple’s CTO Sold 40,000 Ether for Just $1 Each. In other news, the cryptocurrency community has been talking about the uncertainty surrounding the XRP token since the beginning of the day.
Everyone knows that XRP has been doing well for a long time and the future is unclear for now. However, many die-hard XRP supporters still have faith in the token and Ripple. Unfortunately, the bulk sale of XRP tokens by Ripple, its executives, and its ex executives always discourage the community.
The CTO of Ripple, David Schwartz has sold a significant portion of his cryptocurrency holdings at incredibly low prices. Schwartz said that he has no choice but to sell these tokens as part of his risk management agreement with his wife which was signed in 2012. Schwartz revealed that he sold his XRP tokens for $0.10 per token, ETH for $1 per token, and Bitcoin for as little as $750 per token.
While he didn’t reveal the total volume of the stash he sold, he did say that the stash is worth over $15.5 million at current prices. Despite his explanation, XRP holders have expressed their disappointment in the sales and some have even called it an exit scam.
Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.
- Ripple’s CEO, Brad Garlinghouse Confirms Chris Larsen Comments About Possible Relocation From the United States
- Ripple’s CTO Sold 40,000 Ether for Just $1 Each
A few days ago, Chris Larsen, one of Ripple’s executives said that Ripple might consider taking its headquarters from the United States to another country with a better regulatory framework than the United States. Shortly after his speech, there was a lot of speculation in the XRP community about what a move from the United States will do for Ripple and the XRP token. Finally, the CEO of Ripple, Brad Garlinghouse, has broken the silence and made things clear for the public.
Ripple News Today – Ripple is Open to Relocating According to Brad Garlinghouse
In a Twitter trend this morning, Brad Garlinghouse said that the United States doesn’t provide a level playing field for the $10 billion company. In his words;
“The lack of a single national regulatory framework is putting US innovation and US companies at a significant disadvantage. All we’re asking for is a level playing field – if we need to move to another country to get that, then that’s the path we will have to take.”
Neither Larsen nor Garlinghouse have mentioned any particular country. All they said is that the country has to be cryptocurrency-friendly. So far, Singapore and Japan are two countries that are favorable toward blockchain technology and cryptocurrencies. They are also building an ecosystem that will make things easy for the blockchain companies while protecting investors as well. At the same time, Ripple is still lobbying with the United States government as they have done for years but no positive results have been yielded.