Following the recent collapse of the crypto-friendly Silicon Valley Bank (SVB) and Silvergate, some politicians have resorted to blaming crypto while some have called for an outright crypto ban.

Per a tweet, Johan Van Overtveldt, a member of the European Parliament and former Belgian finance minister, said cryptocurrencies should be prohibited, comparing the financial evolution to drugs. 

“Another lesson to be learned from the current banking commotion. Enforce a strict ban on cryptocurrencies. Speculative poison and no economic or social added value. If a government bans drugs, it should also ban cryptos.”

In response, Hoskinson sounded that the prevailing banking crisis is fueled by the central banks and politicians. He urged crypto investors to ignore the FUD and vote wisely when the time comes. 

“The central banks and politicians created this banking crisis, and now they are blaming crypto. Don’t fall for it, and keep a list to remember at the ballot box when election time comes,” he tweeted, telling his followers to “be a single issue crypto voter.”

PlanB, a pseudonymous crypto strategist, supported Hoskinson stressing that crypto is math and math cannot be banned. The Twitter handle responded to Johan Van Overtveldt’s comments by saying:

“Ban math.. why and how? I think the lesson we can learn from the current banking commotion (and the previous one in 2008) is that the (central) banks don’t really know what they’re doing with QE (quantitative easing), and have absolutely no idea what Bitcoin is.”

However, the crypto market continues to print many green candles amid the United States banking crises that have spread to the European market. 

Notably, a top European-based company Credit Suisse was compelled to borrow a whopping $53 billion from the Swiss National Bank lately after its shares recently hit a record low.

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The post Cardano’s Charles Hoskinson Blasts Politicians Calling for Crypto Ban as US Banks Tumble appeared first on Times Tabloid.

Amid the loss-inflicting events, nearly a billion XRP tokens were recently shifted by loaded whales. Ripple equally moved millions of XRP despite its exposure to SVB collapse. 

Data from the leading whale tracking platform, Whale Alert showed that a total of 918 million XRP was moved in less than two hours and eight transactions only. 

The largest volume in this latest series of XRP movements was recorded when 278,500,000 XRP valued at $100,876,265 at the time of the transfer was moved between two unknown wallets.

278,500,000 #XRP (100,876,265 USD) transferred from unknown wallet to unknown wallethttps://t.co/qF1ifno8rq

— Whale Alert (@whale_alert) March 12, 2023

The second-largest XRP whale transaction was spotted when a certain deep-pocketed account transferred a whopping 245,500,000 XRP from one unknown wallet to another unknown wallet. At the time of the transaction, this hefty transaction was valued at 88,923,242 USD.

245,500,000 #XRP (88,923,242 USD) transferred from unknown wallet to unknown wallethttps://t.co/I7P1E1WE58

— Whale Alert (@whale_alert) March 12, 2023

Ripple, the San Francisco-based cross-border firm also contributed largely to the recent massive movement of XRP. On Sunday, the crypto solutions company shifted 200 million XRP to an unknown wallet. This transaction was worth roughly $72.7 million.

200,000,000 #XRP (72,722,775 USD) transferred from Ripple to unknown wallethttps://t.co/QeqSMUhEqy

— Whale Alert (@whale_alert) March 12, 2023

Notably, Ripple previously sent 100 million XRP to the same address on March 6. Recall that the Silicon Valley tech company unlocked 1 billion XRP earlier this month. Its latest funds movements may be part of the released tokens.

Whale Alert further showed that an account affiliated with the Bittrex exchange moved a total of 161 million XRP to several Bitstamp accounts in four consecutive transactions. On one occasion, 51,000,000 XRP valued at $18.6 was transferred to Bitstamp. 

In another transaction, 44,000,000 XRP worth $15.9 flowed into the same exchange from an unknown wallet. More so, the tracking platform reported two instances where 33 million XRP were moved separately to Bitstamp from two unknown wallets.

Meanwhile, the lowest XRP whale movement in this series involved an internal transfer between two Bitso accounts. Here, 31.3 million XRP worth $11.3 million was moved.

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The post Over 900 Million XRP Moved by Whales and Ripple after Silicon Valley Bank Exposure appeared first on Times Tabloid.