On-chain data, tracked by blockchain expert ZachXBT, revealed that Larsen’s wallet was highly active between July 15 and 17, transferring around 50 million XRP, valued at $175 million at the time, to several addresses.
A significant portion of these funds, , was deposited into exchanges such as Coinbase. This sparked questions about why Larsen, a major figure in the Ripple ecosystem, would move such a large amount of this token to exchanges.
