The former CTO of Ripple, Jed McCaleb, has sold off a portion of his XRP holdings over the past four days, amounting to 265M. The transactions were executed on exchanges, one of which was Kraken, thus making it impossible to know the exact addresses that were used to sell the XRP.
On September 6, 2017, Jed McCaleb sold of about $500,000 worth of XRP, then on September 13, he sold another $500,000 and on September 14, he sold $250,000. Some of his sales occurred during a time when the price of XRP was declining, which triggered speculation as to whether McCaleb was effectively shorting XRP by selling it while the price was low.
Ripple’s former CTO, Jed McCaleb, sold 63,979,066 XRP to an unknown buyer on the 11th of March. This is worth $19,906,995 at today’s price of $0.33 per XRP. The sale is not that surprising, since McCaleb is an ex-Ripple employee. This is not the first time that he has sold XRP, as he has been making $1 million per week by selling the cryptocurrency since the beginning of the year. The sale of XRP appears to have been done through a combination of trades on Bitstamp and Kraken. McCaleb still holds his 9 billion XRP in a wallet that he controls, but heIn May, Ripple’s first CTO, McCaleb, sold about 265 million XRP from cold storage so far. Jed McCaleb and Chris Larsen have transferred nearly 265 million XRP to sell them in the last 20 days. Moreover, his Taco Stand portfolio still has about 400 million XRP, and his net worth just dropped 27%.
The Ripple co-founder sold 80.4 million XRP last week. This week it sold 10,008,592.270000 XRP per day, for a total of just over 60 million. According to XRPscan, Jed McCaleb has been a member since the 2nd. On May 20, he made payments of XRP 10 million, XRP 13.4 million and XRP 17.3 million, receiving XRP 442,127,865 from his Ripple account. McCaleb currently has 399,263,523.855929 XRP in his taco stocks portfolio. At the current exchange rate of $1.12, this equates to approximately $449,116,308. Between the 10th and the 19th. In May, when the cryptocurrency market was in full swing, 11 bitcoin billionaires saw their net worth drop significantly. Jed McCaleb’s net worth has also dropped 27% in recent days, from $6 billion to $4.4 billion in XRP. Chris Larsen was also one of them, and their net worth in XRP dropped 19% and 27% respectively. Larsen’s loss was $1.3 billion and McCaleb’s $1.6 billion. Coinbase CEO Brian Armstrong, the Winklevoss twins, Barry Silbert and others are among those who lost a lot in net worth, but CZ, founder and CEO of Binance, suffered no financial loss on his $1.9 billion net worth. The amount of XRP traded per day by the failed Ripple co-founder is decreasing every week. It started the month of May with a sale of 17,301,056 XRP. It stood at 13.4 million in its second week and is now at 10 million. Moreover, it started selling XRP 12,093,062 per day in April, only to switch to dumping XRP 8,399,180 per day.
XRP Current load capacity
XRP is ranked 6th among cryptocurrencies. The value is currently $1.12 with a variation of 4.14%. Over the past 24 hours, trading volume was $9,793,947,381 and market value was $51,832,936,501. At the time of writing, the revenue, maximum bid and total bid are XRP 46.14 billion, 100,000,000,000 and 99,990,461,026 respectively. McCaleb’s initial nine billion XRP cache is steadily shrinking, according to blockchain researcher and analyst Leonidas Hadjilojou. He expects McCaleb to have used up his XRP assets by early September.The past few days, the market value of XRP had increased rapidly, and at press time, XRP had reached $0.55, a new record high. This is because Ripple’s former chief technology officer (CTO), Jed McCaleb, has sold XRP in large amounts since the end of December 2018. This has caused Ripple’s market value to increase by $5.3 billion in a span of 6 days.. Read more about jed mccaleb selling xrp and let us know what you think.
Frequently Asked Questions
How much XRP does Jed McCaleb have left?
In case you missed it, earlier today, news has emerged that Jed McCaleb, the founder of both Satoshi’s Place and Stellar Foundation, has now sold almost all of his XRP tokens, which as of today’s price amounts to a whopping $265,000,000. After today’s sales, he’s now down to just a few million XRP tokens, and the rumor has it that he’ll be selling the rest off this week. Jed McCaleb, the founder of the controversial cryptocurrency called XRP, has sold a large portion of his holdings over the last month. This week alone, McCaleb sold over 67 million XRP tokens, which is worth approximately $20 million USD. In the last 30 days, he has sold 266 million XRP tokens, which is worth $88 million USD at today’s price. For those who don’t know, McCaleb co-founded Ripple in 2013 with Chris Larsen before leaving the company in 2015. He later went on to found another company called Stellar, which he currently serves as their chief technology officer.
Why did Jed McCaleb leave ripple?
Like most young technology companies, Ripple was characterized by relatively small teams working at breakneck speeds to achieve their singular goals. The company’s decentralized nature meant that anyone could start a project, and they could often collaborate with one another without having to worry about different departments or corporate silos. While the cryptocurrency community is still buzzing about the news that founder Jed McCaleb has sold off a large chunk of his XRP, the actual reason he gave for leaving the project is that he wants to focus on something new. Today, McCaleb announced at a Ripple meetup in London that he is starting a new company called “The Stellar Development Foundation” through which he will oversee the development of a new online payment system that aims to compete with the likes of PayPal.
When did Jed McCaleb leave ripple?
The former chief technology officer of Ripple, Jed McCaleb, has sold $100 million worth of XRP tokens so far this month, data from CoinMarketCap.com reveals. The sales on the crypto exchange Bitstamp run in the background of growing criticism directed towards Jed McCaleb, who left Ripple and founded Stellar in 2014, the year after Ripple was founded. As you might have heard by now, Ripple’s CTO Jed McCaleb has recently sold about 265M XRP (worth approximately $104M at the time of the sale). That’s quite a lot of money out of the hands of the original team members, and it got us thinking: when did Jed McCaleb sell his XRP? We’ve taken a look at the past four years of transactions on the XRP Ledger and we’ve created a spreadsheet with all the data.
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