Recent statements by crypto expert Edo Farina have sparked active discussions in the XRP community regarding the potential control of BIS, IMF, and the U.S. Treasury over a portion of Ripple's escrowed XRP.
Legal Aspects of XRP Sales
Farina emphasizes that there are no laws preventing Ripple from selling its escrowed XRP. The escrow system, introduced in 2017, is designed to bring transparency to XRP's circulation by locking 55 billion XRP and releasing 1 billion each month. Ripple retains full rights to sell, allocate, or enter private agreements involving this XRP, as long as transactions comply with legal regulations.
Transparency of the XRP Ledger
The XRP Ledger is fully transparent, allowing tracking of total supply, account balances, and monthly escrow releases. However, as Farina points out, the nature of any behind-the-scenes deals may remain unknown. If Ripple entered private agreements with institutions like the BIS, IMF, or the U.S. Treasury, the actual beneficiaries of the escrowed XRP may not be apparent to the public.
Ripple's Global Financial Ties
Ripple's extensive involvement in the international financial system lends additional context to Farina's theory. The company has worked with over 40 central banks and launched pilot programs for central bank digital currencies in countries like Palau and Montenegro. These relationships suggest Ripple's strategic assets may be more deeply embedded in the future of finance than previously realized.
Two years after the SEC lawsuit began, Edo Farina's claims about the potential control of international financial institutions over XRP highlight the mystery surrounding this asset and its role in the rapidly evolving global financial system.
