Former Ripple CEO Chris Larsen reveals where he has Just moved 499,999,979 XRP

By Selena 09/23/20 2:06 AM

On September 22, Whale Alerts said former Ripple CEO Chris Larsen had transferred 499,999,979 XRP (nearly $ 116 million at press time) to an unknown wallet. This has caused the community to discuss quite enthusiastically; it is unclear who the new owner of that money is.

? ? ? ? ? ? ? ? ? ? 499,999,979 #XRP (115,847,491 USD) transferred from Chris Larsen to unknown wallet

Tx: https://t.co/fqOF75ErBl

— Whale Alert (@whale_alert) September 22, 2020

Chris Larsen reveals where he has Just moved $ 116 mln worth of XRP

After more people started speculating about the new destination of that XRP number, Larsen revealed he moved his XRP wallet to the New York Digital Investments Group (NYDIG).

As some of you may have noticed, I moved an $XRP wallet to NYDIG. I’ve known the founders for a while, and am impressed by their security and top notch institutional standards — this is truly custody 2.0. Check them out at https://t.co/lbr8bG1kEe

— Chris Larsen (@chrislarsensf) September 22, 2020

Manhattan-based NYDIG is offering discerning investors a diverse suite of crypto services, including asset management. NYDIG acquired the BitLicense in 2018 – a year after its creator Benjamin Lawsky joined the group. Over the past three months, its three Bitcoin funds have raised $ 335 million.

Larsen stated:

“I’m known the founders for a while, and I am impressed by their security and top-notch institutional standards – this is truly custody 2.0. Check them out at.”

During the peak of the crypto bubble in early 2018, Larsen is holding 5.19 billion XRP, which he was gifted with as one of the Ripple Labs co-founders. When XRP achieved an ATH of $ 3.84, his net worth rose to almost $ 60 billion.

Although XRP is down 92% from its peak, the 59-year-old businessman is still the richest person in the crypto industry. Furthermore, he is also the only known crypto billionaire on the Forbes 400 list.

Meanwhile, Jed McCaleb, another Ripple co-founder, still has more than 4 billion XRP to sell on the open market.

Ripple is set to ramp up customer due diligence with a new hire

Ripple is looking for a due diligence specialist who focuses on maintaining regulatory compliance. According to a recently posted job offer that describes all of the details of the new position at Ripple, a potential candidate must have profound knowledge of the most important anti-money laundering regulation frameworks.

Ripple requires as below:

“3+ years of BSA/AML/OFAC experience, with at least 2 years of OFAC sanctions screening experience.”

Their perfect candidate will be a certified anti-money laundering specialist with strong data research skills. Whoever gets the job will be responsible for screening Ripple customers and enhancing due diligence for its XRP II, LLC subsidiary.

It will be necessary to analyze data from multiple sources and communicate findings to Ripple’s compliance manager.

The posting states the need to be able to:

“Clearly summarize, document, and communicate findings and recommended action items in a timely manner to compliance management and/or other internal stakeholders when appropriate.”