Introduction
Chris Larsen—Silicon Valley serial entrepreneur, Ripple co-founder, and crypto billionaire—recently made headlines by donating blood post-COVID recovery to promote antibody therapy.
Key Identifiers:
- Ripple Co-Founder: Holds 5.19B XRP (~17% of Ripple’s equity).
- First Crypto Billionaire: Ranked #1023 on Forbes 2020 Billionaires List ($2.7B net worth), down from $37B peak (2018).
From E-Loan to Prosper: A Trailblazing Career
1. E-Loan (1992–2005)
- Pain Point: Poor loan experiences inspired Larsen to create one of the earliest online mortgage platforms, cutting out brokers.
- Exit: Acquired by Banco Popular after reaching $1B valuation.
2. Prosper Marketplace (2006–Present)
- P2P Lending Pioneer: Over $17B in loans facilitated despite early SEC scrutiny.
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Ripple’s Ascent: OpenCoin to Global Payments
Founding & Vision
- 2012: Co-founded OpenCoin (later Ripple Labs) with Jed McCaleb.
- Mission: Use XRP as a bridge currency for cheap, fast cross-border payments (4-second transfers, $0.00001 fees).
Controversies
- Centralization: 80% of XRP supply held by Ripple for sales—criticized as "company-controlled."
- Jed McCaleb’s Exit: Left to launch Stellar (XLM), a decentralized alternative.
Recent Moves: $500M Transfer & Potential US Exit
- Sep 2023: Transferred 500M XRP ($116M) to NYDIG for custody—sparking market fears.
- Oct 2023: Threatened to relocate Ripple over hostile US crypto regulations, favoring Singapore/UK.
Larsen’s Warning: "90% of today’s crypto will vanish; the remaining 10% will change the world."
FAQs
Q1: Why did Chris Larsen’s net worth drop from $37B to $2.7B?
A1: XRP’s price fell from $3.84 (2018) to <$0.30, slashing his holdings’ value.
Q2: Is Ripple (XRP) decentralized?
A2: No—Ripple Labs controls 80% of XRP supply, raising centralization concerns.
Q3: What’s next for Larsen?
A3: Expanding Ripple’s payment solutions or moving HQ abroad if US policies don’t improve.
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Conclusion
Will XRP survive Larsen’s "10% rule" and revolutionize finance? Only time—and regulatory shifts—will tell.
Keywords: Chris Larsen, Ripple (XRP), cryptocurrency billionaire, blockchain payments, XRP price, crypto regulations
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