CNBC, the leading US business channel, changed “Ripple” to “XRP” in its real-time snapshot of cryptocurrency prices, attracting token holders.
This came after Ripple CEO Brad Garlinghouse personally appealed to the channel on Twitter after an interview on May 29.
Ripple Careful About Linking Company to XRP
While this topic may seem trivial at first glance, it is key to the company’s ongoing lawsuit with the SEC.
Ripple insists that it does not control XRP, claiming that it is a technologically independent cryptocurrency while drawing parallels with De Beers’ diamonds and Chevrons’ oil.
However, the US Securities and Exchange Commission claimed that Ripple created a market for “Ripple Credits” (the original name of XRP), sold them as unregistered securities, and made “huge profits.”
Ripple currently holds 6.1 billion XRP while 47.7 billion tokens are locked in its custody.
Huobi Mobile 515 million XRP
DLT data tracking service Whale Alert tweeted that Chinese cryptocurrency giant Huobi had transferred half a billion XRP.
515 million XRP transferred from Huobi
Whale Alert announced the details of the two transfers, of which nearly $530 million was sent by China’s largest cryptocurrency trader.
Huobi transferred a total of 490 million XRP between its wallets. Previously, the platform sent 25 million XRP to Binance Exchange.
The total value of the two transactions in fiat currency was $528,911,442.
The daily XRP transfer from Ripple to Huobi continues. The data shared by the analysis service Bithomp shows that the fintech giant has sent 6,679,600 coins since May 5th.
As a result, Ripple has transferred 26.8 million XRP to this location in the past four days. In the previous week, the total amount of XRP sent to Houbi by the Brad Garlinghouse-run company was 4,195,300 XRP per day.