Former Ripple Labs Co-Founder Jed McCaleb Is Running Out Of XRP For Sale
After years of dumping billions of XRP, Jed McCaleb, the former co-founder and CTO of Ripple Labs, has only a tiny amount of XRP left to sell.
Jed McCaleb, nearing the end of his eight-year half-XRP marathon, has only 81.5 million XRP (worth about $26.5 million) left in his wallet.
According to Jed.tequ.dev, a website that statistics XRP holdings of sharks, McCaleb’s wallet is “tacostand” which sold an average of 4.06 million XRP last month but has increased daily transfers to 7.34 million XRP (worth $2.39 million), as of Sunday, June 26.
The jed.tequ.dev said:“At the current rate of XRP sales, former CTO Ripple Labs’ wallet could run out of XRP within the next two to three weeks”
Since leaving Ripple Labs in 2014, McCaleb has consistently discharged XRP in large numbers each year. According to jed.tequ.dev data, between January and August 2021, Jed McCaleb sold 2.74 billion XRP. Then in the first six months of 2022, the former CTO Ripple Labs went on to sell an additional 627 million XRP.
Jed McCaleb was a member of Ripple’s founding team in 2012 (then known as OpenCoin). More than 20 billion XRP have been divided among all three founders, including Chris Larsen and Arthur Britto, of which McCaleb’s share is 9 billion XRP.
Fearing the market would crash if McCaleb sold all of XRP at once, Ripple Labs and its executives decided to lock his XRP and only allow him to sell a controlled amount.
In 2014 after leaving Ripple, McCaleb founded the Stellar payment protocol (XLM).
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