Jed McCaleb dumped 150.7 million in the past three weeks with half a million XRP remaining in his wallet
As AZCoin News reported, Jed McCaleb, former Ripple chief technology officer, received over 291 million XRP from the company. And in the past three weeks, McCaleb has sold 150.7 million XRP from his stash.
Jed McCaleb sells 150.7 million in the past 3 weeks after receiving 291.5 million from Ripple
According to XRPscan, from June 21 to the present, the former Ripple CTO has dumped another 150.7 million XRP ($98,169,275) in the past three weeks with half a million XRP remaining in his wallet. McCaleb has 590 million XRP remaining in his “tacostand” cryptocurrency wallet.
Source: XRPScan
While selling XRP regularly, McCaleb divides his XRP holdings into vaults and sells them in small transactions each week. Over the past three weeks, the transaction size has dropped from 6,036,204 XRP to 4,896,458 XRP, before rising to 9,859,906 XRP. In the past two days, Jed has sent 5,846,888 tokens to exchanges and this size will stay for the next five days.
On June 7, he received an XRP transaction from Ripple worth 291,570,223 tokens. It was one of the XRP transfers that Ripple made to its co-founder regularly as part of the settlement, and it has been doing since 2013.
The community expects McCaleb to sell the rest of his XRP assets by the end of August this year.
Coinbase moved 62 million XRP between its wallets. One Twitter user in the comment thread had assumed that Coinbase could resume XRP trading after July 28, which was suspended in January due to the SEC lawsuit against Ripple.
This is the date that US Senator Elizabeth Warren has set as the deadline for SEC Director Gary Gensler to come up with a plan for the proper regulation of the cryptocurrency market.
Last week, Warren demanded action from Gensler in her official statement, adding that cryptocurrencies are highly opaque and volatile, including Bitcoin, Ethereum, and other assets. Earlier last week, Twitter CEO Jack Dorsey unfollowed Warren on her social media platform after she delivered an anti-Bitcoin speech in the Senate on June 9.
Read more:
- SEC Sends Letter Claiming That Ripple Has No Right To Testimony On XRP From Ex-Director William Hinman
- Despite Opposition, Ripple Is Pushing Ahead With Plans To Question Ex-SEC Director William Bill Hinman