Cryptocurrency

Ripple Chairman Chris Larsen’s Net Worth Surges by $6 Billion Since Election Day

The recent surge in XRP’s value following Donald Trump’s November 5 presidential election victory has positioned it as one of the most significant winners in the crypto market.

Since Election Day, the token’s price has increased by over 400%, reaching $2.86, its highest value since the cryptocurrency boom of 2017-2018. This rally has also driven Ripple Chairman Chris Larsen’s net worth to $9.2 billion, up from $3.3 billion, marking a substantial increase of 270%.

XRP’s Market Performance and Criticism

XRP’s current market valuation stands at $138 billion, reflecting growing investor optimism. However, skepticism about its utility persists. A Times Tabloid report earlier this year highlighted Forbes’ mention of XRP as a “Zombie Blockchain,” noting that despite its market size, it has failed to achieve its intended purpose of replacing SWIFT in global interbank transfers.

Legal Challenges and Regulatory Developments

The ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC) remains a focal point for the cryptocurrency’s future.

In December 2020, the SEC filed a lawsuit alleging that Ripple conducted a $1.3 billion unregistered securities offering through the sale of XRP tokens.

While Ripple achieved a partial victory in July 2023, Judge Analisa Torres ruled that retail sales of XRP through exchanges did not violate securities laws. However, institutional sales of XRP were deemed unlawful under U.S. securities regulations.

The legal uncertainty surrounding XRP has been a significant hurdle, but recent political changes have renewed optimism. With Gary Gensler, who became a prominent adversary of the crypto industry during his tenure as SEC Chairman, set to resign in January 2025, speculation about a more crypto-friendly regulatory approach under the Trump administration has grown.

Investors are betting on XRP’s potential to benefit from a pro-crypto regulatory environment under the new administration. Many in the industry expect the incoming SEC chair to prioritize resolving XRP’s legal challenges, which could pave the way for spot exchange-traded funds (ETFs) tied to the token.

Implications for XRP

The resolution of the SEC case could remove a major obstacle for XRP, providing clarity and potentially unlocking additional institutional investment. A clean regulatory slate would likely boost XRP’s adoption and cement its position in the cryptocurrency market.

Chris Larsen’s substantial financial gains underline XRP’s impressive performance and its evolving narrative in a shifting regulatory landscape. While challenges persist, the coming months may prove pivotal for XRP.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.


Follow us on Twitter, Facebook, Telegram, and Google News

Solomon Odunayo

Solomon is a trader, crypto enthusiast, and analyst with over four years of experience in the industry. He strongly believes that crypto assets and the blockchain will continue to gain prominence. At TimesTabloid.com, he focuses on news, articles with deep analysis of blockchain projects, and technical analysis of crypto trading pairs.

Recent Posts

Bulls vs Bears: Why SOL & SHIB Prices Are Down While DTX Exchange Steals Crown With $9.4M Explosion

Recently, there has been another intense battle between bulls and bears. Key players such as…

20 minutes ago

Win Big with the Best Meme Coins to Buy This Month: BTFD Coin Presale Hits $1.1M as Dogwifhat Targets 226% Gains and Cheems Thrives!

What if the next meme coin boom could be your golden ticket to life-changing returns?…

5 hours ago

The Genius Behind Bitcoin’s $100K Forecast Picks His Favorite 5 Coins for 2025 Gains!

A prominent crypto analyst, renowned for his bold forecast that Bitcoin will reach $100,000, has…

6 hours ago

5 Altcoins Ready to Explode 25,000% After Bitcoin’s ATH Break — History’s Biggest Rally Incoming?

As Bitcoin edges toward surpassing its previous peak, focus shifts to other cryptocurrencies primed for…

7 hours ago

Whales Exit Ethereum for Solana and This Hidden Meme Coin With a Predicted 12,000% Boom

Large investors are moving their funds away from a prominent blockchain platform. Their attention is…

8 hours ago

Secure a $2 Million Crypto Portfolio by 2026—Starting With $500 Today!

A small investment today could lead to a substantial fortune in just two years. As…

9 hours ago