Jed McCaleb has finally finished selling all of his XRPs

Ripple co-founder Jed McCaleb sold the rest of his loot. In total, it got rid of 9 billion XRP in recent years.

Jed McCaleb gets rid of his latest XRP

Recall that Jed McCaleb, the co-founder of Ripple, had left the project to create Stellar (XLM). A lawsuit with Ripple had left him several billion XRPs, which he had been getting rid of for many years now. Sales were in fact limited to a certain amount per month, so as not to drop the price of XRP.

That hasn’t stopped Jed McCaleb from making sometimes substantial sales, sometimes getting rid of several million XRPs in one day. In total, the sum assigned to the co-founder following the cause represented 18% of all XRP in circulation.

McCaleb’s regular “landfills” were therefore frowned upon by the Ripple community, which found it incongruous for a competing project manager to continue selling such sums.

👉 Learn more about the history of Ripple (XRP)

The exchange that the wind has in the sails⭐

5% discount on commissions with this button

An address that is finally empty

Jed McCaleb finished selling his cryptocurrencies yesterday, if his address is to be believed, where the last million XRPs came from. This is the culmination of a very long history that dates back to 2014. In total, the co-founder of Ripple managed to recover and sell 9 billion XRP. At the current price, this corresponds for a sum of 3.2 billion dollars.

The XRP community welcomed this long-awaited step:

The news has been pretty positive on Ripple’s side lately. Although the company has been engaged in a legal battle with the Securities and Exchange Commission (SEC) since 2020, it is scoring small wins. Last week he got that SEC be required to disclose some key documents relating to the case.

Considered a “historic” cryptocurrency, XRP is currently the seventh most capitalized cryptocurrency. It weighs 17 billion dollars and follows Binance’s BUSD.

👉 Also in the news Ethereum (ETH): according to a new schedule, The Merge is expected for September 19

Source: XRP scan

Join experts and a premium community


Invest in your cryptocurrency knowledge for the next bull run

toaster icon

Newsletter 🍞

Get a cryptocurrency news summary every Sunday 👌 And that’s it.

What you need to know about affiliate links. This page presents assets, products or services related to investments. Some links in this article are affiliates. This means that if you buy a product or register on a site from this article, our partner pays us a commission. This allows us to continue to offer you original and useful content. There is no impact on you and you can even get a bonus using our links.

Investments in cryptocurrencies are risky. Cryptoast is not responsible for the quality of the products or services presented on this page and cannot be held responsible, directly or indirectly, for any damage or loss caused as a result of the use of a good or service highlighted in this article. Investments related to cryptocurrencies are risky in nature, readers should do their own research before taking any action and invest only within the limits of their financial capabilities. This article does not constitute investment advice.

Leave a Comment