According to jed.tequ.dev, Ripple co-founder Jed McCaleb hasn’t sold XRP since late August this year. This is one of the longest periods during which he did not dispose of his assets.
The data shows the last sale took place 12 weeks ago, when a former Ripple CTO transferred just under eight and a half million XRP to Bitstamp for the sale.
Jed McCaleb is a famous person in the crypto industry who co-founded Ripple in 2011 and also created the Mt. Gox.
McCaleb became Ripple’s first CTO, but due to disagreements with the other co-founders, he left the company in 2013. As one of the reasons for the discord, the departure of an employee of Ripple Labs, with whom he had a close relationship, is indicated, which deprived the top manager of interest in working on the project.
In an October 2017 post, current Ripple CTO David Schwartz rethought McCaleb’s situation, writing that McCaleb had unjustifiably betrayed his employees and investors.
IMHO, there is no excuse for betraying your employees and investors, unless you are aware of illegal or immoral actions on the part of the company or its management. Now Jed claims he was mistreated.
Anyway, at the time of leaving the company, McCaleb owned 9 billion XRP, so Ripple entered into a deal with him, which included gradual sales of tokens to prevent an oversupply.
In 2016, a new agreement was signed, under which he donated 2 billion XRP to charity, and the remaining 5.3 billion was deposited with Ripple to sell sales based on a percentage of the average daily volume.
Analysis of McCaleb’s “tacostand” wallet reveals that the last payment received from Ripple took place on September 1 and contained 174,862,720 tokens.
The current holdings of the tacostand wallet are 709,911,488 XRP, which is valued at approximately $ 731 million at today’s price.
McCaleb has not sold XRP since the last transfer on August 31, and analysts have observed that XRP has remained unchanged since September 1. On September 6, it peaked at $ 1.39.
Since then, the general downtrend has resulted in a low of $ 0.87, which has now recovered to $ 0.95.
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I am Derek Black, an author of World Stock Market. I have a degree in creative writing and journalism from the University of Central Florida. I have a passion for writing and informing the public. I strive to be accurate and fair in my reporting, and to provide a voice for those who may not otherwise be heard.