Kraken XRP Withdrawal Sparks Market Transparency Debate as Ripple CTO Denies $237M Purchase Theory

Ripple’s Chief Technology Officer David Schwartz has dismissed speculation about a $237 million XRP purchase, clarifying that the transaction was likely an exchange withdrawal. The transfer, involving nearly 237 million XRP moved from Kraken to an unknown wallet, has reignited discussions about market transparency and manipulation in the cryptocurrency space.

Ripple CTO Dismisses $237M XRP Buy Theory Amid Manipulation Claims

Ripple’s Chief Technology Officer David Schwartz has refuted speculation surrounding a $237 million XRP transaction, clarifying it was likely an exchange withdrawal rather than a new purchase. The transfer, initially flagged by Whale Alert, involved 236,982,972 XRP moving from Kraken to an unknown wallet, sparking debates about market transparency.

The crypto community’s reaction highlights ongoing concerns about price manipulation and the interpretation of large-scale movements in digital asset markets. XRP’s market dynamics remain under scrutiny as participants weigh the implications of such transactions.

Global Dollar USDG Attracts TradFi Interest as Kraken Foresees Rapid Partner Growth

The global dollar (USDG), a stablecoin launched in November, is gaining traction with potential partnerships from both crypto-native firms and traditional finance institutions. Kraken, a founding partner, anticipates the network could expand to 1,000 participants as firms seek a share of yield generated from reserve assets.

Nineteen new entities recently joined the USDG ecosystem, with Kraken’s Mark Greenberg noting strong interest from banks and large TradFi players. "We’re moving from 25 partners to 50, then potentially 1,000," Greenberg said, highlighting the accelerating adoption curve. The stablecoin’s backers include Robinhood, Paxos, Galaxy Digital, and Anchorage Digital.