In the past 15 days, Jed McCaleb, who cofounded Ripple Labs, sent a whopping 127 million XRP to be sold
Over the past 15 days, Jed McCaleb, the co-founder of Ripple Labs, plans to sell a whopping 127 million XRP, according to transaction analysis website XRPscan.
Over the past two weeks, cofounded Ripple withdrawn almost 127 million XRP tokens to cash crypto out
As of March 15, Jed McCaleb has made 15 XRP transactions (one per day), moving a total of 126.6 million XRP. Meanwhile, 336 million XRP remains in his “taco stand” crypto wallet.
Jed McCaleb is the first chief technology officer at Ripple Labs, who co-founded it in 2012 alongside Chris Larsen. However, the following year, because of a difference to the latter, McCaleb resigned and began creating rival Stellar with its XLM token.
He has received a healthy compensation of nine billion XRP that he has sold in lumps since then. The settlement deal he signed forbids McCaleb from dumping all XRP he owns in the market at once – to prevent this from causing the XRP exchange rate to drop to zero.
The regular sales McCaleb is making do not affect the price of the seventh-largest token, XRP. The company’s co-founder pulled out 152 million XRP tokens ($ 65,183,376) over the previous nine days.
The legal lawsuit filed by the US securities regulator against Ripple Labs and its two top executives, Chris Larsen and Brad Garlinghouse, continued.
Ripple recently filed a petition that the court forced the SEC to present documents for the regulator to determine Bitcoin and Ethereum are not securities.
The court has approved this and announced the date of a telephone discovery meeting for both sides of the case: April 6. Speaking of the lawsuits, Jed McCaleb, despite being another Ripple co-founder and despite selling XRP regularly, has not been sued by the SEC.
You can see the XRP price here.
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