The data shows that the last sale was 12 weeks ago when Jeb McCaleb transferred nearly 8.5 million XRP to Bitstamp for sale.
Source: jed.tequ.dev
Jeb McCaleb is a prominent figure in the crypto industry, he co-founded Ripple in 2011 and at the same time Mt. Gox.
McCaleb was Ripple’s first CTO, but internal disagreements led him to leave the post in 2013. Kim, who was also an employee of Ripple Labs, had a rift and her departure caused him to lose interest in building Ripple.
In a blog post from October 2017, current Ripple CTO David Schwartz corrected himself and said McCaleb had wrongly betrayed his employees and investors. In a situation of betrayal, it is not uncommon for founders to be forced to leave.
However, at the time of his departure, McCaleb owned 9 billion XRP, and instead of letting him go with unrestricted access, Ripple negotiated an agreement stating how much he can sell to prevent the situation.
After allegedly breaking this agreement in 2016, a new agreement was renegotiated in which McCaleb would donate 2 billion XRP to charity, and Ripple would manage the remaining 5.3 billion as a percentage of the average daily trading volume.
McCaleb’s “Tacostand” wallet analysis shows that the last payment of 174,862,720 XRP received from Ripple was on September 1st.
Source: xrpscan.com
The current inventory of the “Taco Stand” wallet is 709,911,488 XRP, which at today’s prices is worth about $ 731 million.
McCaleb has not sold any XRP since his last transfer on Aug. 31, leading to much speculation as to why he was not selling.
XRP’s performance since September 1st has stagnated somewhat. Since then, a local high of $ 1.39 has been reached on September 6th.
While a series of higher lows have raised hopes of a resurgence, XRP has been stuck in a tight trading range between $ 1.02 and $ 1.1 for the past week.
Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews
Mr. Teacher
According to Cryptoslate
Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page
Here are the latest predictions for Dogecoin, Shiba Inu, and ETFswap.
Discover BlockDAG's 100% bonus and $110M presale surge that’s sparking interest among crypto enthusiasts. Also,…
Discover why crypto investors are moving to ETFSwap (ETFS) as $500 million liquidity injection is…
Learn about BlockDAG's $110M presale achievement and the whopping 100% bonus offer, alongside Ethereum's growth…
Thai police corruption exposed as officers extort millions in USDT from a Chinese man under…
SafePal Telegram Wallet allows 950 million users to create compliant crypto-friendly Swiss bank accounts, integrating…
This website uses cookies.