Ripple Co-Founder Jed McCaleb Sold Over 450 Million $XRP so Far This Year
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Cryptoknowmics 2022-05-28 05:48:31

Ripple Co-Founder Jed McCaleb Sold Over 450 Million $XRP so Far This Year

According to statistics from XRP Ledger explorer XRPScan, Ripple co-founder Jed McCaleb has sold over 450 million $XRP tokens this year and still retains roughly 220 million tokens in his “tacostand” wallet. McCaleb is claimed to have begun working on Ripple in 2011 and was a member of the company’s founding team when it launched in 2013. He left it in 2014 to work on Stellar (XLM), although he was rewarded with 8 billion XRP tokens for his role in designing and launching OpenCoin, which was then rebranded to Ripple. The entrepreneur receives the monies on a regular basis and has stated on XRP Talk, a forum for XRP investors and supporters, that he intends to sell the funds he receives after donating a portion of them to charities such as Give Directly, Literacy Bridge, and others. He has been selling XRP on a regular basis since then. McCaleb has sold 464.8 million XRP tokens so far this month, worth roughly $181 million at the time of writing. The cryptocurrency is currently trading at less than $0.40, having lost about 60% of its value in the last year as part of a wider cryptocurrency market sell-off. It’s worth noting that McCaleb’s big XRP sales continued even after the cryptocurrency suffered a major sell-off last year as a result of the SEC’s lawsuit against Ripple Labs. Ripple and two of its executives are accused of “raising over $1.3 billion through an unregistered, ongoing digital asset securities sale,” according ...

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