In Failed Bitfinex Exploit Attempt, Billions in XRP Moved
The failed token transfers spooked some market watchers as they amounted to nearly half of XRP’s $30 billion market capitalization.
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Jan 15, 2024 at 6:48 a.m. UTC
Jan 15, 2024
XRP is a digital asset and cryptocurrency that was created by Ripple Labs Inc., a technology company specializing in the real-time gross settlement system, currency exchange, and remittance network. XRP operates on an open-source and peer-to-peer decentralized platform that allows for a seamless transfer of money in any form, be it USD, Yen, litecoin, or bitcoin. XRP is often used by Ripple's payment ecosystem, RippleNet, and is increasingly adopted by banks and payment networks as settlement infrastructure technology. As a bridge currency, XRP also provides liquidity for instant cross-border transactions.