Who Is Ripple’s Chris Larsen?
Highlights
- Chris Larsen co-founded Ripple Labs.
- Ripple pioneered FinTech, however, soon went into legal crosshairs with the U.S. SEC.
- Chris Larsen's crypto wallet recently got hacked.
Chris Larsen is the co-founder and former CEO of Ripple Labs, a leading company in blockchain technology that played a pivotal role in revolutionizing global financial technology (FinTech). Born on February 28, 1960, in San Francisco, Chris Larsen’s journey mirrors a remarkable fusion of entrepreneurship and a commitment to remolding traditional banking systems.
With his venture into blockchain technology in 2012, Larsen co-founded Ripple, an organization designed to offer fast and cost-effective cross-border payments leveraging blockchain. Ripple then introduced the XRP cryptocurrency and the XRP Ledger (XRPL), a decentralized blockchain protocol seeking to address the inefficiencies and delays linked to traditional banking systems, specifically in the world of international money transfers.
Larsen’s Journey Across FinTech
Ever since Larsen ventured into the financial landscape, the entrepreneur aimed to curate a seamless, global financial network that facilitated faster, more transparent, and cost-effective transactions for individuals and institutions functioning throughout the sector. With his payments company, Ripple, Larsen offered services that nabbed significant attention among critical financial institutions globally, staging the company as a pioneer in FinTech.
However, the company curated quite the speculative buzz with Larsen stepping down as CEO in 2016. Still, he continued to contribute to Ripple’s growth and innovation across the crypto sector as the board’s Executive Chairman. Amid Larsen’s tenure, Ripple made staggering advancements following its strategic merging of forces with numerous key entities in the financial space.
Besides, it’s important to note that Ripple faced legal challenges from the U.S. SEC regarding its sale of XRP, curating a whirlpool of legal proceedings on regulatory reforms for regulating cryptocurrencies.
Meanwhile, Larsen’s XRP wallet recently got hacked, garnering noteworthy attention within the crypto horizon.
Also Read: XRPL Integrates Hex Trust To Amplify Ripple’s XRP Adoption
Crypto Wallet Hack
Numerous reports surfacing over the crypto space indicate that Larsen’s XRP wallet appears to have been compromised recently. Onchain analyst Zachxbt first spotlighted the attack. Whereas Larsen’s address of the situation followed soon after. Reportedly, the stolen assets were promptly frozen. Concerning this, a staggering 213 Mln XRP on the move resulted from the attack.
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