- 800 Million XRP Moved to Unknown Wallets via Bitstamp, BitGo Set to Secure Storage
The digital currency space is never short of news. This time it is about XRP and two top entities. According to the report, a breathtaking amount of XRP has been sent from Bitstamp exchange to Bitgo wallets. Recall that both firms had been looking to work together. Now this move has initiated the beginning of the collaboration between the two crypto companies.
Not too long ago, the Twitter account responsible for tracking crypto transactions, the Whale Alert Twitter, registered two successful fund transfers of about 200 million XRP each. After this, there were several more XRP transfers which reached a breathtaking total of 800 million XRP. The huge amount of cryptocurrency (XRP) was transferred from Bitstamp exchange to several unknown wallets in less than 30 minutes.
800 Million XRP Was Sent to BitGo Wallets
Per the report, the Whale Alert Twitter account has recorded several Blockchain transactions that happened consecutively after 800 million of Ripple’s XRP was transferred from Bitstamp exchange to several unknown crypto wallets. It happened like this: three transfers came as 200 million XRP. Another transaction of 50 million XRP came and another 150 million XRP made up the total sum of XRP sent.
XRP (XRP) Price Today – XRP / USD
There was a comment from Bitstamp exchange relating to the discussion that was under the Whale Alert’s Tweet. The Whale Alert Twitter account had tweeted about the transactions. A link that was shared under the post would refer users to a recent announcement. The announcement is: BitGo will now be providing security crypto storage for the Bitstamp exchange while the latter (Bitstamp) conducts the task of asset management.
Recall from an earlier report that crypto giant Ripple, hired a former high-ranking executive at BoA and Bitcoin wallet to serve as the Head of Regulatory Affairs for Ripple’s U.S extension. The report was also accompanied by news of Ripple’s recently launched Washington office. These moves by the Blockchain network shows that Ripple is fully committed and determined now more than ever to negotiate with US regulators and lawmakers. Additionally, Ripple Chief, Brad Garlinghouse also shared news regarding his company’s actions.
Garlinghouse said that the chief of MoneyGram called him to speak on the issue of On-Demand Liquidity. The MoneyGram head told Garlinghouse to make sure that Ripple accelerates its move to implement On-Demand Liquidity along with XRP usage in new digital currency markets. Ripple is one of the firms that could successfully tackle the issue of on-demand liquidity.