Gargantuan amounts of XRP have been moved, while Ripple, its ODL corridor Bitstamp and Binance have moved 37 million XRP
According to XRPL Monitor, over the past twenty hours, Binance has sent slightly over 17 million XRP to Ripple and they transferred almost that amount to one of its wallets and its European ODL corridor in Luxembourg.
Ripple wires 20 million XRP, receives 17.7 million XRP from Binance
XRPL Monitor has shared analytics showing that the Binance trading giant sent 17.7 million XRP to a Ripple address. In fiat that totals $4,938,314. The analytics firm Bithomp site shows that the Binance wallet involved in the transaction currently holds almost 3 million XRP. From it, funds have recently been wired to OKEx, Kraken, and Bitstamp.
In addition, several substantial transactions were sent to Ripple’s address rLckToYxU7BpqAmFfoGgtoHZhF9NjvsK2D, containing 19 million, 10 million, 30 million and 27 million XRP.
Apart from that, Ripple itself moved 10 mln XRP to what is allegedly the company’s “alternative escrow” address: RL18-VN.
After that, 10 million XRP was sent to the Bitstamp exchange located in Luxembourg, which serves as Ripple’s ODL platform in Europe. This is not the first jaw-dropping XRP transaction from Binance to Ripple.
Two other major XRP transactions are related to the custodial service BitGo, which works with financial institutions and holds their crypto for them. Previously, XRPL Monitor often reported gargantuan transactions of XRP from Ripple to Bitgo.
This time, the service has moved 25 million XRP to Bitstamp and sent 21 million XRP from one of its wallets to another.
XRP Ledger’s losing its genesis block is “the funniest fail ever”
Blockstream CEO and prominent Bitcoin maximalist Adam Back claims that XRP Ledger’s losing its genesis block is “the funniest fail ever”:
Yah that’s the funniest fail yet. Lose some of the blockchain history, working copies goes from 1 to 0. Watch out eth… https://t.co/ebrUEIbhHX
— Adam Back (@adam3us) August 27, 2020
As shocking as it may sound, the first week of XRPL’s history has, indeed, been permanently erased. As expected, the op-ed written by former Ripple CEO Chris Larsen for The Hill certainly did not sit well with Bitcoin maximalists.
Previously, Larsen argued that the Chinese had enough power to seize control over the Bitcoin network due to the high concentration of global mining hashrate in the communist state. At least 65% of cryptocurrency mining is concentrated in China, which means the Chinese government has the majority needed to wield control over those protocols and can effectively block or reverse transactions.
Blockstream CSO Samson Mow countered Larsen’s argument by pointing out that the Communist Party of China itself does not subsidize Bitcoin or any other cryptocurrency. Chris Larsen is a few blocks short of a blockchain. The Chinese government does not subsidize the mining of Bitcoin or any other cryptocurrency – I’d love to see his sources that state otherwise.
In retaliation, Monero developer Riccardo Spagni paraphrased the aforementioned quote, claiming that the ex-Ripple boss is actually “32,570 blocks short of a blockchain.”
— Riccardo Spagni (@fluffypony) August 27, 2020
He also attached a post published by Ripple CTO David Schwarz on Bitcointalk back in 2013, in which he explains that the XRP Ledger can only be traced from ledger 32,570 due to a critical bug that has erased the earliest days of the cryptocurrency’s history. This means that there is no record of XRP’s genesis block—the one that marked the creation of 100 billion tokens.
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