![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
![]() |
|
Cryptocurrency News Articles
XRPL Validator Vet Explains How the U.S. Government Could Take Control of the XRP Tokens in the Ripple Escrow
Mar 03, 2025 at 08:08 pm
Vet, a prominent XRPL dUNL Validator, has explained how the U.S. government could take control of the XRP tokens in the Ripple escrow.
In a surprising revelation, XRPL dUNL Validator, known as Vet, has explained how the U.S. government could take control of the XRP tokens in the Ripple escrow.
This could happen without needing to wait for the typical escrow unlock process. Notably, this revelation comes amid official confirmation from U.S. President Donald Trump that the country would establish a crypto asset reserve with XRP and other tokens.
As XRP enthusiasts celebrate the news, some are speculating on how the government could establish the proposed reserve using the XRP tokens Ripple holds in escrow. Amid this, XRPL Validator Vet suggests a straightforward route for this process to occur.
In a tweet, Vet proposed that Ripple could transfer its escrow ownership to the U.S. government or any other entity via a single transaction. According to him, by setting the regular key of the XRP accounts holding the escrowed funds to the account of the U.S. government, Ripple could effectively grant full control over the escrowed assets.
He emphasized that the process is not complex and could all be completed in a single XRPL transaction.
This is not a trivial task. It would require one entity to transfer the ownership of the escrow to another entity in a single transaction.For example, if the U.S. government were to create a crypto asset reserve, as mentioned by President Trump, then Ripple could set the regular key of the account holding the
escrowed funds to the account of the U.S. government in a single transaction to grant them full control over the escrowed assets. It's not a complicated process and could all be completed in a single XRPL transaction.
Meanwhile, Mayukha Vadari, Senior Software Engineer at RippleX, remarked that this method wouldn’t work for partial transfers. Vadari stressed that it’s an all-or-nothing solution.
This essentially means Ripple would have to transfer the entire 37.7 billion XRP tokens ($105 billion) in escrow, or the method wouldn’t be effective.
Vet replied, confirming Vadari’s point. He noted that each account could only be “transferred” to one address. However, he added that many accounts exist, rather than a single account holding multiple escrows.
Correct, every account could only be "transferred" to one address.But there are many accounts out there, instead of one account with many escrows.
Other community members sought clarification on whether such a transaction would be public or occur behind the scenes. Vet responded that because XRP transactions are public, it would be possible to track the hashes of such a transfer if it were to happen.
However, some commentators, including Vet himself, expressed doubts about whether such a transfer would ever occur. The pessimism stems from the enormous value of Ripple’s XRP in escrow—worth over $100 billion.
Some commenters likened the scenario to XRP super whales voluntarily giving up such significant wealth. “It would be a historic philanthropic gesture,” one commenter said. Meanwhile, they also cautioned, saying, “That’s not how people typically behave.”
Disclaimer:info@kdj.com
The information provided is not trading advice. kdj.com does not assume any responsibility for any investments made based on the information provided in this article. Cryptocurrencies are highly volatile and it is highly recommended that you invest with caution after thorough research!
If you believe that the content used on this website infringes your copyright, please contact us immediately (info@kdj.com) and we will delete it promptly.
-
- Elon Musk says his new position within the US government is the 'most absurd outcome' he could've possibly imagined for his career
- Mar 04, 2025 at 03:00 am
- President Donald Trump was inaugurated as the 47th President of the United States on January 20, the same day he signed an executive order tasking Elon Musk to front the Department of Government Efficiency (DOGE).
-
- March 2025 brings new opportunities for cryptocurrency investors, and Mutuum Finance (MUTM), Shiba Inu (SHIB), and Pepe (PEPE) are the most notable
- Mar 04, 2025 at 03:00 am
- March 2025 brings new opportunities for cryptocurrency investors, and Mutuum Finance (MUTM), Shiba Inu (SHIB), and Pepe (PEPE) are the most notable.
-
-
-
-
- CryptoPunks NFT Collection Dominated Most Expensive Non-Fungible Token (NFT) Transactions in February 2025
- Mar 04, 2025 at 02:55 am
- The CryptoPunks NFT collection dominated the most expensive non-fungible token (NFT) transactions in February 2025. During its sale, CryptoPunk #4464 achieved a record-breaking price of 1,010 $ETH, which corresponds to $2.18 million.
-
-
- Bitcoin (BTC) price soared 20% after Trump said it would be included in a new US strategic reserve
- Mar 04, 2025 at 02:45 am
- Bitcoin was trading up more than 20 percent from last week's lows on Monday and several other cryptocurrencies that US President Donald Trump said would be included in a new US strategic reserve also rallied sharply.
-