Former Ripple co-founder Jed McCaleb has earned $3.1 billion and 708 BTC from his XRP sales in all
According to Leonidas, a well-known XRP enthusiast and founder of XRParcade, Jed McCaleb is estimated to make $3.09 billion and 708 BTC from selling his position. Significantly, most of the sales, 80% or $2.56 billion, came after the SEC filed its case against Ripple.
Jed McCaleb Earned Billions of Dollars from His XRP Holdings
Former Ripple co-founder and CTO Jed McCaleb officially sold off all of his XRP holdings. That headline greeted the XRP community this morning with the pleasant bonus of an 8% increase in the token’s price. In the meantime, XRP historian Leonidas did his research and found that most of MaCaleb’s sales of its huge XRP position came after the SEC’s lawsuit against Ripple.
Zoomed in totals: pic.twitter.com/TSPuICsr51
— Leonidas (@LeoHadjiloizou) July 18, 2022
Despite being an open secret, the amount of money the former Ripple official made from XRP sales is quite impressive. Whether McCaleb’s increase in XRP sales precisely after the SEC investigation began is an ugly move is an open question. What is more interesting is how much longer the sale would have taken and whether it would have ended if there had been no investigation.
The funny thing is that McCaleb sold XRP for BTC only at the beginning of the sale. Then, for some reason, McCaleb abandoned the idea. McCaleb’s last Bitcoin transaction was on September 14, 2014, when the value of one BTC was still $400. Nevertheless, he still managed to get 708 BTC, which, if he did not sell them, now equals $15.5 million and gives him the right to appear among the ranks of whales with a position of 100 to 1,000 BTC.
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- Former Ripple CTO Jed McCaleb Has Sold Many Millions Of XRP