Ripple moved over 291 million XRP to Jed McCaleb, the estimated time before he runs out of his XRP is almost 141 days
Whale Alert just reported that Former Ripple chief technology officer Jed McCaleb, who also co-founded the DLT company with Chris Larsen, has just received over 291 million XRP from the company.
? ? ? ? ? ? ? ? ? ? 291,570,224 #XRP (192,347,323 USD) transferred from Jed McCaleb Settlement to Jed McCaleb wallethttps://t.co/qISRUdO7KJ
— Whale Alert (@whale_alert) July 6, 2021
Ripple moved over 291 million XRP to McCaleb as part of the compensation agreement
About 15 hours ago, Ripple transferred another large amount of XRP to Jed McCaleb’s wallet – “tacostand”, about 291 million tokens, worth over $192 million. Even so, McCaleb didn’t mind postponing the XRP sale and sent about 10 million XRP to a crypto exchange.
Source: XRPScan
The previous large volume of XRP that touched McCaleb’s XRP address was 408,123,659 (equivalent to $274,305,403) sent by Ripple on June 3. After selling 9,859,906 XRP today, Jed still has 631,267,190 XRP in his wallet.
Back in 2013, a year after Ripple Labs was founded, McCaleb decided to leave his position as CTO and the company due to discrepancies with another founder, Christopher Larsen, regarding the next process that Ripple should take. He was awarded 9 billion tokens but under the terms of the settlement, McCaleb was not allowed to sell all these billions of XRP at once so as not to bring the XRP price to zero.
Since then, McCaleb has been receiving XRP transactions and selling the proceeds. Some in the community believe that Jed will have used up his nine billion XRP by the time of November.
Source: Jed.tequ.dev
Researcher Martin Valk has shared a link to the website dedicated to the regular lumps of XRP that McCaleb has been receiving. Data on the webpage shows that the estimated time to go before McCaleb runs out of his XRP for good is almost 141 days.
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