In the latest developments in the cryptocurrency market, a Ripple-affiliated wallet transferred nearly 50 million XRP coins to EU-based Bitstamp and Mexican crypto unicorn Bitso. Whale Alert reported these large-scale transfers, which were valued at approximately $25.8 million. During this period, XRP's value increased over 15%. Both Bitstamp and Bitso are collaborating with Ripple on its "Ripple Payments" service for cross-border payments via RippleNet, previously known as On-Demand Liquidity (ODL).

Today, the cryptocurrency community was buzzing with speculation after Ripple Labs' CTO David Schwartz's frog picture post. PEPE-themed accounts interpreted it as an endorsement of the frog-themed meme coin, which saw a significant 60% increase this week.

In other news, following the collapse of FTX, the trustees have transferred over $19 million in various tokens to exchanges like Binance and Coinbase (NASDAQ:COIN). These tokens include 470,000 SOL ($15 million), 11,000 COMP ($2.5 million), LINK ($2.2 million), AAVE ($1 million), MKR ($2 million), and ETH ($3.4 million).

Prior to its collapse, FTX had staked $150 million in SOL (5.5 million tokens) and ETH (over 24,000 tokens) to provide returns for investors. The staked assets are expected to yield an annual return of 6.79% for SOL and 3.4% for ETH, potentially resulting in over $8 million in SOL returns alone.

A transfer of $8.6 million from FTX and Alameda Research to a Binance address was also reported today. This transfer follows FTX's previous efforts to provide returns for its investors through staking large amounts of SOL and ETH.

https://www.investing.com/news/cryptocurrency-news/ripple-affiliated-wallet-transfers-50-million-xrp-coins-sol-and-eth-staked-by-ftx-yield-returns-93CH-3210704