Ripple moves one billion XRP and leaves mystery memo
|- Ripple moved one billion XRP out of escrow to sell a portion of their assets to accredited investors and institutions.
- This is something they do at the start of every month. Along with that, they also leave an interesting memo. The latest memo states, “The revolution will be televised…”.
Ripple moved one billion XRP out of escrow to sell a portion of its assets to accredited investors and institutions. This is standard procedure for the company as at the start of each month, Ripple moves a large number of coins to sell to investors and fund its monthly operations. They also have the habit of including interesting memos along with these mass movements of XRP. The latest memo states, “The revolution will be televised…”, which is a reference to Gil Scott-Heron’s “The Revolution Will Not Be Televised.”
During last month’s movement, Ripple’s memo read “Crawl… Walk… Run… ;).” This was a reference to the comments that CEO Brad Garlinghouse made during a Quora ask-me-anything back in October of 2017:
“Some of our customers are already in the early stages of using xRapid, Ripple’s XRP liquidity solution. Payments into emerging markets can require multiple currency traders (added costs) and pre-funded local currency accounts in the destination (trapped, dormant capital). Instead, payment providers and banks can use XRP to fund these payments on demand, without intermediaries, at a cost that is less than half of the current cost.
But it’s safe to say that we have to crawl before we walk before we run. This is uncharted territory for banks and payment providers, and it’s going to take time before you see broad adoption of digital assets solving this multi-trillion dollar opportunity. Suffice it to say, we are very pleased by the interest from various pilots our customers are already running.”
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