Ripple Co-Founder Liquidates XRP Assets
- July 18, 2022
- 0
On July 17, Ripple co-founder and former CTO Jed McCaleb liquidated 1.1 million XRP, allegedly ending the sale of 9 billion tokens. At the time of writing, the
On July 17, Ripple co-founder and former CTO Jed McCaleb liquidated 1.1 million XRP, allegedly ending the sale of 9 billion tokens.
At the time of writing, the balance of the community-tracked tacostand wallet is 46.7 XRP.
“40 XRP left, now you can have more coins than Jed,” the authors of the JedTacostand Twitter channel wrote with irony.
XRP address: rEhKZcz5Ndjm9BzZmmKrtvhXPnSWByssDv
17 June 2022
— 1.109 million
Available: 40.33
40 XRP left, now you all have more XRP than JED 🍻
pic.twitter.com/FFQN1udLtw— Jed’s Tacostand (@JedTacostand) 17 July 2022
According to McCaleb, 9 billion XRP represents his stake in Ripple. In 2014, he started to sell his assets in installments as part of an agreement with the company. The co-founder of the company donated a certain number of tokens to charities.
On July 15, humor source CTC News published an interview with McCaleb, who allegedly decided to keep the last 5 million XRP “just in case”.
“If you think about it, it would be very stupid to sell all this. I mean, what if it really costs $589 per coin? I can be RICH!” He is credited with a quote that some believe.
The next day, McCaleb liquidated 4.2 million XRP.
Whale Alert was able to track its eight-year sales of 5.7 billion XRP, valued at approximately $3.1 billion ($0.55 on average).
ℹ️ With the last one #XRP Selling in sight, we’ve decided to update our research by Jed McCaleb. #fluctuation luck. Check it out to see how valuable it is to build a blockchain!https://t.co/oYfzbcAdYG
— Whale Alert (@whale_alert) 17 July 2022
At the time of writing, the coin is trading near the $0.36 mark. In the other day, the price of the asset increased by 2.4%, during the week the rate increased by 11.7% (CoinGecko).
Recall that McCaleb suspended XRP sales for almost a month after suing Ripple by the US Securities and Exchange Commission in December 2020.
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I’m Sandra Torres, a passionate journalist and content creator. My specialty lies in covering the latest gadgets, trends and tech news for Div Bracket. With over 5 years of experience as a professional writer, I have built up an impressive portfolio of published works that showcase my expertise in this field.
