TechFlow news, Ripple CEO Brad Garlinghouse recently revealed that Ripple had leased approximately $10 million worth of XRP to the now-bankrupt FTX and is seeking to recover some or all of the assets through the bankruptcy process. Brad Garlinghouse added, "But this isn't too significant for the business—it represents about 1% of our liquid assets."
Ripple regularly provides short-term XRP leasing to market makers and XRP participants for sales purposes. Typically, these leases are returned to Ripple. According to Ripple's latest quarterly report for Q3 2022, the total outstanding lease amount was 91.1 million XRP. It remains unclear what safeguards exist if a counterparty fails to return the leased XRP.Source link
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