One of the founders of Ripple Labs, the company that created XRP, is Chris Larsen. In the early stages, a large portion of the XRP tokens was distributed among the company and its management, including Larsen. He retained significant reserves of tokens, part of which have been sold on the market in recent years, leading to criticism for potential pressure on the price of XRP.
Additionally, in 2024, Larsen faced a hacking attack that resulted in the theft of tokens worth $112 million. Some of these funds were partially frozen and tracked on cryptocurrency exchanges.
Overall, XRP continues to be actively used despite the legal disputes between Ripple Labs and the SEC in the USA, which lasted for several years. These proceedings affected the company's reputation, but recently the court ruled that XRP is not a security, which was an important step for the project.
#XPR #RippleRumblings #BinanceBlockchainWeek $XRP
Additionally, in 2024, Larsen faced a hacking attack that resulted in the theft of tokens worth $112 million. Some of these funds were partially frozen and tracked on cryptocurrency exchanges.
Overall, XRP continues to be actively used despite the legal disputes between Ripple Labs and the SEC in the USA, which lasted for several years. These proceedings affected the company's reputation, but recently the court ruled that XRP is not a security, which was an important step for the project.
#XPR #RippleRumblings #BinanceBlockchainWeek $XRP