Former Ripple CTO continues to make tens of millions of dollars by selling XRP

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2021-03-29 09:49:02

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According to data from XRPscan, over the past 15 days, Jed McCaleb, former co-founder of Ripple Labs, has moved 127 million XRP, this huge amount of XRP will be sold in the near future.

Meanwhile, 336 million XRP is still in the character’s electronic wallet “tacostand”.

$ 71 million XRP has been moved from the wallet “tacostand”

As of March 15, Jed McCaleb has made a total of 15 XRP transactions (one transfer per day), moving a total of 126.6 million XRP, according to transaction analysis website XRPscan.

If counted in fiat currency then that number represents approximately $ 71,000,000.

Jed McCaleb is the CTO (the first chief technology officer) of Ripple Labs (originally known as OpenCoin and later renamed), co-founder in 2012 with Chris Larsen. However, the following year, because of his difference in opinion, McCaleb resigned and started creating Ripple rival Stellar with the XLM token.

The former CTO received a 9 billion XRP compensation and since then, Jed has liquidated that amount in small amounts. The settlement agreement he signed with the Ripple company does not allow Jed to liquidate all the XRP he owns in the market at once – to prevent the XRP exchange rate from falling to zero.

Jed has sold 152 million XRP previously

The regular sales that the former CTO is making has no effect on the price of the seventh largest token, XRP.

On March 15, the former co-founder of Ripple sold 152 million XRP, or more than 65 million dollars.


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