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40 million XRP just got transferred to former Ripple executive Jed McCaleb

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XRP

The past few months have been a momentous in the crypto sphere, due to the events that have been going on with the price actions and activities of major cryptocurrencies and altcoins. One of the cryptocurrencies making constant headlines is Ripple (XRP) without any doubt.

Overall, great emphases have been continuously made on how money can be moved quickly and inexpensively using Ripple’s blockchain technology. However, just a couple of hours ago, about 40 million in XRP were transferred from one account to another, known to be owned by a former Ripple executive, Jed McCaleb. It still is not clear why the funds have been moved, but it seems both co-founders are cooking something up.

As the funds were transferred, the move didn’t go unnoticed by the Ripple community as the transfer involved a large sum of XRP. The Twitter bot @XRPLMonitor shouted the recent happening:

https://twitter.com/XRPL_Monitor/status/1060212022577713153

As soon as the event took place, the XRP community began to react to news since the transaction was unusual, and that it involved a large amount of XRP with a less cost – less than a cent.

A member of the XRP community who goes by the name Krisk tweeted:

Jed’s wallet (tacostand) sender.”

Another member, Jay Katana also tweeted in reply to Krisk:

“XRP dump + XLM pump incoming then, if true.”

Lots of findings are currently on, on why this fund has been transferred – it may be towards a new venture of Ripple (XRP), or probably, it may point to the idea that it was a pump on XLM blockchain owned by Jed McCaleb. Some members in the Ripple community also see it that Ripple is trying to show its cost-saving abilities.

As stated earlier, the receiver’s account is owned by the owner of Stellar (XLM), Jed McCaleb, who is also the real creator of Mt.Gox exchange. According to the New York Times, it is essential to know that McCaleb held a large amount of XRP worth $20 billion in Jan. 2018.

On the other hand, the sender’s account is believed to be owned by Ripple itself. Nevertheless, lots of speculations have risen on why two co-founders are allegedly transferring large chunks of money from one account to the other.

This is not the first time these type of events have happened – as about three months ago (August), $2.3 billion in XRP got moved between Ripple and Jed McCaleb.

As of now, the reasons for the recent transaction remains unclear, but we may see more insights in a few days to come (or maybe within hours). No doubts, the current happening points to the fact that digital assets can change the way money moves from one place to another – but we aren’t sure on the real motive of the recent transaction.

Meanwhile, XRP rests in red by a fraction at the time of writing as it is trading at the price of $0.5353 after going down by 0.48% in the last 24 hours. Let’s see how this sudden massive XRPs movement affects the price.

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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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A Guide to Exploring the Singaporean ETF market

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Singapore’s Exchange Traded Fund (ETF) market has grown, offering investors diverse investment opportunities and access to different asset classes. As the market evolves, investors must navigate these uncharted waters with a clear understanding of Singapore’s ETF landscape. This article explores the trends, challenges and strategies for navigating the Singapore ETF market. To start investing in ETFs, you can visit Saxo Capital Markets PTE.

The Singaporean ETF Market: Exponential Growth

The Singapore ETF market has seen significant growth in recent years, with an increasing number of ETFs covering a wide range of asset classes and holders. different investment topics. 

One of the notable trends in the Singapore ETF market is the growing diversity of available options. Investors can now choose from ETFs that track domestic and international stock indexes, bonds, commodities, and specialist sectors or themes. This diverse range of ETFs allows investors to create comprehensive portfolios tailored to their investment goals.

The growth of the ETF market in Singapore is also due to growing investor demand for low-cost, transparent, and accessible investment vehicles. ETFs offer benefits such as intraday liquidity, real-time pricing, and the ability to trade on exchanges. These characteristics have made ETFs attractive to retail and institutional investors who want exposure to different asset classes.

Regulatory Landscape and Investor Protection

The Monetary Authority of Singapore (MAS) is the…

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Property Loans for Foreigners in Singapore That You Must Know About

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property loans for foreigners in Singapore

Intending to invest in a residential or commercial property in Singapore?  

When it comes to foreigners applying for a loan in Singapore, things can be pretty hard regardless of the reason whether you need the property for personal or business purposes.  

In Singapore, buying a property is challenging, whether you are a foreigner or a native, and sometimes applying for a loan is the only way for you to afford it.  

HOW MUCH CAN YOU BORROW FOR A PROPERTY LOAN IN SINGAPORE? 

As for the Foreigner Loans, in Singapore, there is an exact amount of money you can borrow to finance the purchase of a property.  

In this sense, Singapore has the Loan to Value Ratio (LTV).  

The LTV ratio is what determines the exact amount of money you can borrow for a property loan, which changes depending on where you try to obtain the loan:  

  • If you are applying for a bank loan, you can borrow a maximum of 75% of the value of the property you want to purchase. That means if you are looking for a property that costs $500.000, the maximum amount of money a bank lender can give you like a loan in Singapore is going to be $375.000. 
  • When you are applying for a loan with a Housing…
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CoinField Launches Sologenic Initial Exchange Offering

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Sologenic

CoinField has started its Sologenic IEO, which is the first project to utilize the XRP Ledger for tokenizing stocks and ETFs. The sale will last for one week and will officially end on February 25, 2020, before SOLO trading begins on the platform.  Sologenic’s native token SOLO is being offered at 0.25 USDT during the IEO.   

Earlier this month, Sologenic released the very first decentralized wallet app for SOLO, XRP, and tokenized assets to support the Sologenic ecosystem. The app is available for mobile and desktop via the Apple Store and Google Play.  The desktop version is available for Windows and Mac.

“By connecting the traditional financial markets with crypto, Sologenic will bring a significant volume to the crypto markets. The role of the Sologenic ecosystem is to facilitate the trading of a wide range of asset classes such as stocks, ETFs, and precious metals using blockchain technology. Sologenic is an ecosystem where users can tokenize, trade, and spend these digital assets using SOLO cards in real-time. The ultimate goal is to make Sologenic as decentralized as possible, where CoinField’s role will be only limited to KYC and fiat ON & OFF ramping,” said CoinField’s CEO…

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