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Ripple Moves 85,299,895 XRP As Founder Chris Larsen Sends ‘Groundbreaking’ Crypto Transfer

April 06, 2019

Crypto whale watchers are following large movements of XRP from Ripple.

In the last day, the company has moved 85,299,895 XRP worth more than $30 million across five separate transactions.

Since Ripple typically sells XRP from its OTC distribution wallets, one of the transactions appears to be a sale of $7.2 million XRP to a third party.

19,999,895 #XRP (7,217,572 USD) transferred from Ripple OTC Distribution wallet to unknown wallet

Tx: https://t.co/HBgeL1Kheo

— Whale Alert (@whale_alert) April 6, 2019

At the start of the month, Ripple released one billion XRP worth more than $300 million from escrow to make the funds available to sell to crypto exchanges and other institutions.

Meanwhile, Ripple co-founder Chris Larsen is sending what’s being described as one of the largest donations ever made in a digital asset to a US university.

Larsen and his wife Lyna Lam say they will give $25 million to San Francisco State, with most of the donation denominated in XRP.

Larsen is an SF State and College of Business graduate. The university will use the gift to boost programs helping students learn about global entrepreneurial and fintech ecosystems.

“This groundbreaking gift will position the College of Business as an evolving, distinctly diverse and industry-relevant epicenter of business innovation and entrepreneurship. Chris, Lyna and Rippleworks are innovators, and their gift will inspire our students to creatively and strategically approach the business and tech landscapes to become the next generation of entrepreneurs and global business leaders.”

In 2017 Berkeley accepted its first Bitcoin donation, valued at more than $50,000. According to a report by Bloomberg, MIT and Cornell have both accepted undisclosed amounts in crypto donations.

Ripple is also using its new University Blockchain Research Initiative (UBRI) to donate $50 million to more than a dozen universities around the world, promoting education of blockchain and crypto.

The company has also created a social impact effort called “Ripple for Good” and recently donated $1 million to help struggling families in the San Francisco Bay Area.

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