Crypto billionaire Jed McCaleb hasn’t sold any XRP for nearly three months
Ripple co-founder Jed McCaleb has not sold any XRP for almost three months. This has been one of his most respites since he first threatened to sell all of his money in 2014. He still holds 709,911,634 XRP, more equivalent $750 million.
Jed McCaleb hasn’t sold any XRP in 3 months
Jed left Ripple Labs in 2013 (known back then as OpenCoin), as it wanted to take the company in a different direction from the other co-founders. He was given compensation of a whopping nine billion XRP for his services as the company’s first CTO and for helping to cofound it.
Jed went on to set up a rival DLT firm, Stellar, to develop his ideas. He was prohibited from selling his massive XRP stash at once by the contract, and, instead, he agreed to sell his XRP in small portions regularly.
According to the blockchain data provided by XRPscan, overall, Jed McCaleb will have sold 2.6 billion XRP in 2021. In January, he had 3.4 billion XRP in his wallet. But slowly selling his XRP over the past seven years brings the potential value of his liquidations to under $3 billion. McCaleb also pledged to donate 2 billion XRP to charitable causes.
Now, as of September 1, the “tacostand” balance equals 709.9 million XRP.
Jed McCaleb transferred nearly 8.5 million XRP ($11 million) to Bitstamp on August 31. Since then, nothing happened | Source: Jed.tequ.dev
As per data provided by XRPscan, since September 1, the former Ripple chief technology officer, who also helped found the company, has not sold a single XRP. His XRP wallet still contains the same amount of Ripple-affiliated crypto as back at the start of the month: 709,911,634 XRP.
A legal stoush between McCaleb and Ripple Labs saw the company distribute the founder’s reward over time to stop him from crashing the market.
In June, Protos reported McCaleb dumping 12.7 million XRP every day across a three-month average, valued at $8.1 million at the time. If he’d kept that up, he would’ve been all out of XRP to sell by the end of September.
McCaleb received his last tranche (174.9 million XRP, worth $180 million) from Ripple on September 1. He hadn’t siphoned a single XRP since the day before he received that last payment. McCaleb usually sends his XRP directly to crypto exchange Bitstamp.
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