25
Sep
2020

Ripple Co-Founder Sends 500,000,000 XRPs to New York Fund Managers

Ripple co-founder Chris Larson has the New York Digital Investment Group manage 500 million XRP.

The ripple co-founder Chris Larson leaves parts of his assets now of the New York Digital Investment Group (NYDIG) manage

As announced on September 24th, the former CEO of the company transferred 500 million Ripple (XRP) to the investment group in a single transaction.

This equates to just under 116 million US dollars (USD). The crypto fund manager NYDIG is now supposed to increase the half billion Ripple. With this step, Larson would like to show his confidence in the company. The security and institutional standards are first class, said the sixty-year-old.

Ripple: fourth largest cryptocurrency by market capitalization

NYDIG is one of the largest crypto fund managers in the world. The company, which was founded in 2017, manages digital assets, for example through investments in derivatives and other funds: The company only opened a $ 190 million Bitcoin fund in July. Just a month before that, it opened one valued at $ 140 million. Whether these two investments are actually two different ones and not merged has not been proven beyond doubt.

Dapper Labs have started their Flow Blockchain Token Sale. Some of the world’s best developers and big brands are already on board including (NBA TOP SHOT, UBISOFT, WARNER MUSIC GRUOP).

Other co-founders of Ripple also went on an investment course with their own coin stocks. Jed McCaleb, for example, has been selling his Ripple slowly since 2014 so as not to influence the price too much. However, among other things, he undertook to pay into a charitable fund.

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