Ripple has retained 200 million XRP from the 1 billion tokens unlocked from escrow on September 1. This comes as the deadline for Ripple to pay a $125 million fine to the SEC approaches. The release of 1 billion XRP tokens took place across three transactions.
In the first transaction, 500 million XRP worth $280 million was unlocked and transferred into Ripple’s wallet. The second and third transactions saw the release of 200 million and 300 million XRP respectively into another Ripple wallet. The wallet that received the 500 million XRP redistributed the tokens by transferring 200 million XRP to another Ripple wallet and the remaining 300 million XRP to a different Ripple wallet.
The second wallet, which received the 200 million and 300 million XRP, transferred 100 million XRP to another wallet and moved the remaining 400 million XRP back into escrow.
Ripple retains 200M XRP from escrow
In total, two Ripple wallets each managed 800 million of the 1 billion XRP unlocked from escrow.
Another wallet retained 200 million XRP, which Ripple might use for operational funding, liquidity purposes, or other financial needs. Judge Analisa Torres issued the $125 million fine to Ripple on August 7, giving the company a 30-day window to make the payment. The fine equates to approximately 227 million XRP, slightly more than the amount Ripple retained from escrow this month.
Rumors suggest Ripple might have already paid the fine, but these remain unverified as the company is not obligated to disclose this publicly. Influencer CryptoInsightUK speculated that paying the fine would eliminate chances for an appeal, but community figure WrathofKahneman dismissed this notion, confirming that the payment does not affect the appeal process. Both Ripple and the SEC have a 60-day window to file an appeal against any part of the ruling, leaving 34 days remaining from now for such actions to occur.
Regardless of whether Ripple has already paid the fine, the terms of Judge Torres’ ruling stipulate that Ripple must comply within the specified 30-day period.
- TheCryptoBasic.”4 Days Left to Pay SEC as Ripple Keeps 200M XRP After 1B Unlocked from Escrow”.
- Bitcoinist.”Ripple Caught Offguard After Massive XRP Inflows to Exchanges, Imminent Selloff Triggers Migration to this”.
- U.”$868 Million in XRP in 24 Hours, Are Whales Coming Back?”.