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Ripple co-founder Jed McCaleb has sold approximately 450 million $XRP tokens this year, according to XRPScan, and still has over 220 million coins in his “tacostand” wallet.
Reward made him millions
McCaleb is said to have started working on Ripple in 2011 and was a founding member of the firm 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 part in designing and launching OpenCoin, which was then rebranded to Ripple.
The entrepreneur has claimed on XRP Talk, a forum for XRP investors and supporters, that he wants to sell the cash he gets after donating a portion of them to Give Directly, Literacy Bridge, and other nonprofits are examples.
Since then, he’s been selling XRP on a regular basis.
McCaleb has sold 464.8 million XRP tokens so far this month, valued at roughly $181 million at the time of writing. The cryptocurrency is presently selling at less than $0.40, having lost about 60% of its value in the previous year as part of a larger cryptocurrency market sell-off.
It’s worth noting that McCaleb’s big XRP sales persisted even after the cryptocurrency suffered a major sell-off last year as a result of the SEC’s lawsuit against Ripple Labs.
According to “Raising over $1.3 billion through an unregistered, continuous digital asset securities offering,” according to the SEC, Ripple, and two of its employees.
According to statistics, whales in the XRP Ledger with between 1 million and 10 million $XRP in their wallets have been discreetly acquiring tokens, to the point that In the previous 11 days, holdings have increased by 2.4 percent, accounting for 6.12 percent of the cryptocurrency’s supply.
Late this month, Ripple, the largest holder of XRP, restated its commitment to being carbon-neutral by 2030.
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Nancy J. Allen is a crypto enthusiast, with a major in macroeconomics and minor in business statistics. She believes that cryptocurrencies inspire people to be their own banks, and step aside from traditional monetary exchange systems. She is also intrigued by blockchain technology and its functioning. She frequently researches, and posts content on the top altcoins, their theoretical working principles and technical price predictions.
