Ripple Unleashes Over 300 Million XRP Tokens
A look behind the scenes at Ripple reveals a remarkable move in December: Over 300 million XRP Tokens were unleashed from the company’s “locked vault.” A move that has made the crypto market sit up and take notice and once again raises questions about Ripple’s token release and policy.
Ripple Unleashes Over 300 Million XRP Tokens
The former crypto giant, which caused a worldwide sensation with its XRP token in December 2017, has been the focus of criticism for years for its strategy of gradually releasing XRP. With a total supply of 100 billion XRP, there are currently only 54 billion in circulation. While 40 billion are waiting in Ripple’s famous “vault” to be released.
The December Unleash, consisting of four installments of 60 million each on December 6 and 12, 120 million on December 20, and 70 million XRP Tokens on December 27, is part of Ripple’s long-term release plans. There are currently around 40 billion XRP Tokens remaining in the “vault”, some of which will be gradually brought onto the market by 2027.
Criticism in recent years for the former crypto giant
The background to this approach has brought Ripple under criticism in recent years. The company’s controversial decision to release tokens in specific time windows with specific restrictions also allows executives to sell tokens within set limits. The fact that these decisions are made by key figures who own significant shares of the company adds to the controversy.
Exactly three years ago, on December 20, 2020, the US Securities and Exchange Commission (SEC) filed a lawsuit against Ripple. The accusation: unregistered investment contracts. In recent months, a partial decision was made in favor of Ripple when the court found that sales to institutional customers could be considered legitimate investment contracts. This development was celebrated by fans, among other things, as a “victory” against the SEC. But the recent XRP unleashing is once again raising questions and keeping the crypto community on tenterhooks.
