Ripple Transfers 100 Million XRP Amid Regulatory Scrutiny #100MillionPortalTokens

Whale Alert revealed that Ripple transferred 100 million XRP tokens to an unknown wallet worth approximately $57.9 million at the current XRP price.

Ripple reportedly transferred 100 million XRP tokens, worth approximately $57.9 million, to an unknown wallet on September 18, 2024, amid heightened regulatory scrutiny.
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This substantial transfer occurred at a time of intense regulatory scrutiny, drawing the attention of market observers and analysts alike.

Details of Ripple Transfer and Subsequent Movements

According to Whale Alert, the Ripple Transfer originated from an address linked to Ripple.
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Shortly after the initial transfer, 19.957 million XRP was moved to another Ripple wallet.

The funds were then distributed across several exchanges, with the largest portion—19.7 million XRP—being sent to Bitso, while a smaller amount of 257,000 XRP was transferred to Bitstamp.

Given Ripple’s ongoing legal struggles, the timing and scale of this XRP movement have raised eyebrows.
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The company is facing an SEC lawsuit over alleged unregistered securities offerings, and a key deadline for an appeal is approaching.

Ripple has been granted permission to withhold a $125 million payment, keeping the funds in trust until the appeal is resolved by October 6.
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Some analysts have speculated that this XRP transfer may be part of Ripple’s broader legal strategy, possibly in anticipation of releasing the trust funds.

Others have raised concerns about a potential sell-off, as portions of the transferred XRP have ended up on exchanges.

XRP Price Surge and Ripple-SEC Lawsuit Updates #UpdateAlert

After the transaction, XRP saw a modest increase in value. Its price rose to $0.5863, representing an 8.40% gain from the previous week’s lows.

$USDC Peaq Backs $100M DePIN Fund III by Borderless Capital, Fuels Decentralized Infrastructure #100MillionPortalTokens

Peaq invests as an anchor investor in DePIN Fund III, a $100 million fund by Borderless Capital. This fund aims to support the growth of DePIN projects. #ProjectUpdates

Peaq, a Germany-based Layer-1 platform focused on decentralized physical infrastructure networks (DePINs), announced on September 19 that it has invested as an anchor investor in DePIN Fund III, a $100 million venture fund launched by Borderless Capital.

In addition to peaq, DePIN Fund III boasts an impressive list of other backers, including the Solana Foundation, Jump Crypto, IoTeX, and GSR.

DePIN Fund III: Investing in the Future of Decentralized Networks

DePINs are transforming how physical infrastructure is built and maintained by leveraging blockchain technology and token incentives.
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This decentralized model allows individuals to participate in building networks for connectivity, GPU clusters, edge computing, mapping, and more, with greater efficiency and lower cost compared to traditional Web2 solutions.

DePIN Fund III, managed by a team of seasoned industry experts, including Helium co-founder Sean Carey and former Telefónica executive Alvaro Gracia, will focus on investing in promising DePIN projects that are transforming traditional industries.

Powering DePIN Growth

Peaq’s investment in DePIN Fund III offers several benefits to the broader DePIN community. The fund will provide additional capital to DePIN projects, enabling them to scale their operations and reach new markets

Peaq Strengthens Network with Industry Leaders

Peaq is actively expanding its reach and influence within the Web3 ecosystem through strategic partnerships with industry leaders and technological advancements.

On September 11, peaq strengthened its network by adding prominent European enterprises and research institutions

The new node operators, including Deutsche Telekom MMS, Lufthansa Innovation Hub, Bertelsmann Investments, and the Technical University of Munich (TUM).