Jed McCaleb Has Been Dumping 18.5 Million XRP Daily This Week - Crypto News

Jed McCaleb Has Been Dumping 18.5 Million XRP Daily This Week

Recently published data shows that this week former chief technology officer of Ripple Labs (and its cofounder) Jed McCaleb has been releasing 18,558,414 XRP every day to be sold.

Jed McCaleb sells 92.5 million XRP this week

According to XRPscan, since Sunday, April 25, Jed McCaleb, who helped to create Ripple Labs (known as Opencoin until 2015), has been sending 18.5 million XRP from his “tacostand” wallet to be sold.

That makes it a whopping 92.5 million XRP tokens in total – $129,264,015 in fiat.

The remaining amount of XRP in the McCaleb’s wallet as of now is 248,075,429 coins.

As reported by U.Today at the start of the week, over the previous seven days, former CTO of the blockchain giant Ripple had sold a staggering 202 million XRP ($231,899,940 at the XRP exchange rate on that day).

Last week, McCaleb was selling 22.5 million XRP per day. This week, he has been releasing four million XRP less per day.

Overall, Jed has less than 2 billion XRP left (beyond “tacostand”).

At the time of writing this, the fourth largest cryptocurrency XRP is changing hands at $1.40, according to the data from CoinMarketCap.

Ripple plans to go public after the SEC lawsuit: SBI CEO

As reported by U.Today earlier, CEO of the SBI Group financial giant, Yoshitaka Kitao, said during the recent earnings presentation call that Ripple plans to perform a public offering of its shares after it is done with the SEC-initiated lawsuit.

Kitao pointed out that this is a desire of Chris Larsen, who founded Ripple together with Jed McCaleb. By the way, Larsen and the CEO Garlinghouse are also defendants in the case of SEC against Ripple Labs.

The company and the two highest-ranking executives are accused of illegal XRP sales (with these tokens referred to as “unregistered securities” by the SEC agency) and making over $1.2 billion in profits from it.

However, Jed McCaleb was not mentioned in the official legal complaint filed by the SEC in late December 2020.



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