🎉 [Gate 30 Million Milestone] Share Your Gate Moment & Win Exclusive Gifts!
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Does Ripple Really Own 48 Billion XRP?
Ripple Labs is one of the oldest companies in the industry and it’s behind one of the most popular altcoins – XRP.
But the question of them dumping their own altcoin on the market to fund operations has caused serious controversy for many years and now, the discussion has been brought up again, this time highlighting the tremendous number of tokens that the company is in control of.
This suggests that the company is in control of more or less $100 billion worth of tokens that it’s using to fund operations and sells a portion of them every month.
Chipping on the matter was the Ripple CTO, David Schwartz, who said:
A senior software engineer, Mayuka Vadari, also chipped in on the matter, saying:
If it sounds like a technicality to you, that’s probably because it is. As the saying goes “if it walks like a duck…” you know the rest. Ripple Labs is indeed going to receive these tokens as per the Escrow conditions, as it has been over the past many years now.