Arrington Moves $50M in XRP in 2 Seconds, Sparking US Reserve Talk
1min read Arrington Capital Founder: "We Moved $50M Worth of XRP In 2 Seconds..."
Michael Arrington, founder of Arrington Capital, recently shared his experience moving $50 million worth of XRP in just two seconds, with transaction fees amounting to only 30 cents. This demonstration highlights the speed and cost-effectiveness of using XRP for large transactions, which could have significant implications for its potential as a reserve asset for the U.S. government.
Arrington's Perspective on XRP's Utility
In a video clip, Arrington emphasized the advantages of using XRP for fund transfers in his hedge fund. By transacting in XRP, Arrington Capital can avoid lengthy delays associated with international wire transfers and the fees imposed by banks. He also noted that when limited partners (LPs) redeem their investments, the process is seamless due to XRP's rapid transaction speed.
Arrington's statements reaffirm XRP's strong utility in cross-border transactions and institutional finance. While debates about different cryptocurrencies continue, his real-world experience demonstrates that XRP's speed and low transaction costs provide tangible benefits for businesses and investors.
Could Trump Back A US XRP Reserve? Lawyer Reveals Unexpected Path
Jeremy Hogan, an attorney known within the XRP community for his legal insights on the ongoing Ripple vs. SEC lawsuit, suggested that the US government could establish XRP as part of a strategic reserve for one reason no one really talked about before. Hogan pointed out that government agencies might be more concerned with utility and control than decentralization and validator governance.
Hogan's perspective diverges from the typical conversation among crypto enthusiasts, who often focus on decentralization and validator governance. Instead, he points out that government agencies might be more concerned with utility and control. He suggested that the government may possess classified insights into potential geopolitical tensions or economic events where holding XRP could prove advantageous.
Hogan's thread attracted multiple reactions from the community. Some users commented on the potential implications of government ownership of XRP, while others added different angles to the discussion. Ripple's CEO, Brad Garlinghouse, has previously voiced skepticism over a single-asset Strategic Bitcoin Reserve (SBR), instead advocating for a diversified approach that includes XRP and other digital assets made in the United States 
