On-chain sleuth ZachXBT recently spotlighted billions worth of XRP linked to Ripple Chairman Chris Larsen following President Trump’s reserve announcement.
This disclosure, which the investigator shared with the community on Telegram, coincides with the U.S. government’s announcement of a national crypto reserve featuring XRP alongside Bitcoin, Ethereum, Solana, and Cardano.
His commentary has expectedly triggered new discussions about what most Bitcoin proponents perceive as centralized control around crypto assets with known issuers, especially as XRP’s inclusion in the reserve stirs controversy among Bitcoin maximalists.
Ripple Chairman’s Holdings
In his report, ZachXBT identified multiple XRP addresses, each activated by Larsen in 2013, that collectively hold over 2.7 billion XRP worth more than $7 billion. Most of these wallets have remained dormant for years, with Zach speculating whether Larsen still controls them or if he lost access as far back as February 2013.
Notably, wallet “rhR…tjna” sprang to life in September 2024, moving 50 million tokens on Sept. 16 and a subsequent 20 million XRP five days later. The Crypto Basic confirmed on Jan. 29 that this wallet continued to offload millions of XRP, moving out 40 million XRP in January 2025 and 60 million tokens since September 2024.
At the time of the report in January, this wallet had a balance of 410 million XRP tokens. However, its balance currently sits at 400 million tokens after it moved 10 million XRP hours after the report on Jan. 29. Notably, ZachXBT also called attention to the January sales in his recent disclosure.
Meanwhile, another wallet belonging to Larsen, “rPo…K2k,” shifted large funds in 2018, bringing its balance to 300 million XRP at the time. Since then, the address has continued to hold onto these 300 million tokens, remaining dormant for seven years.
Further, four wallets have clinged to their original 500 million XRP each, untouched since activation. The on-chain sleuth also called attention to the early 2024 hack where Larsen lost $112 million in XRP. The Crypto Basic highlighted this event at the time, which Larsen confirmed.
Discussions around US Strategic Reserve
The timing of ZachXBT’s disclosure reflects the frustration by Bitcoin proponents regarding XRP’s inclusion in the proposed U.S. strategic reserve. President Donald Trump’s March 3, 2025, announcement of the U.S. Crypto Reserve triggered a 28% XRP price surge within hours.
Bitcoiners like Will Baxter, vice president at Bitcoin mining resource Braiinsmining, stand against XRP’s inclusion in the reserve, pointing to Larsen’s and Ripple’s whale-like holdings.
The US government using taxpayer money to buy XRP—an asset where Ripple controls over 50% of the circulating supply—is pure insanity.
Trump needs to understand the gravity of this mistake before it’s too late.
Who’s advising him on this?
— Will Baxter (@willbaxter88) March 2, 2025
In contrast, some individuals on X contend that relying solely on Bitcoin—created by the mysterious Satoshi Nakamoto, potentially a Chinese entity—poses its risks. Meanwhile, others like Ripple CEO Brad Garlinghouse believe diversifying the reserve strengthens U.S. financial security.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
