⚡️Did Ripple CEO Brad Garlinghouse lie about the amount of XRP on the company's balance sheet?
At the beginning of the year, Garlinghouse said that Ripple holds over $100 billion worth of XRP, which was about 72% of the issued tokens.
However, Ripple's report on January 31 showed that the company holds only 4.49 billion XRP worth $12.8 billion. It turns out that Garlinghouse overstated the amount of cryptocurrency by 9 times!
It is possible that Garlinghouse took into account not only the coins on the balance sheet, but also those stored in a blocked escrow account. Taking them into account, the total amount of Ripple assets is 42.49 billion XRP worth $121 billion.
But that's not all! Ripple directors are suspected of dumping XRP for personal gain. Rumor has it that Brad sells 10 million XRP every month to buy himself a new Porsche.
It is precisely this behavior of the company's management that many attribute to the stagnation of the XRP rate, which only began to grow after Trump's victory in the elections.
