XRPscan analytics platform demonstrates that, since the beginning of May, Ripple's first chief technology officer, Jed McCaleb, has sold almost half a billion XRP from his "tacostand" wallet.
During this period of time, he has also received 408 million XRP from Ripple Labs. The transaction occurred on June 3.
$430 million worth of XRP sold by McCaleb in May
In May, Ripple cofounder Jed MacCaleb sold his XRP in stashes of 10.2 million, 10 million, 13.4 million and 17.3 million, changing the size every week.
In June, he has so far been selling XRP by 16,353,884 coins in every transfer. The total value of the XRP sold in fiat USD is $430,336,399.
At the moment, "tacostand" holds 617,345,763 XRP on its balance.
Jed McCaleb has been receiving regular payments from Ripple Labs as part of the settlement agreement signed when he left Ripple back in 2013 and went on to found Ripple's rival, Stellar, with its XLM coin that also targets fast and cheap payments for financial institutions and remittances.
Ripple moves XRP to Bitso
Around 18 hours ago, Whale Alert detected Ripple sending 10 million XRP to its ODL partner and crypto unicorn in Latin America: Bitso exchange.
Apart from that, major U.S. exchange Bittrex sent 17 million XRP tokens to Upbit and an anonymous whale moved 10 million XRP to the Japanese exchange Bitbank.
Now that Bitcoin is being attacked by many as a coin that consumes a lot of energy produced from fossil fuels, Ripple-affiliated XRP promotes itself as a green cryptocurrency that does not need proof of work (PoW) mining, since it has been pre-mined.
Alex Dovbnya
Tomiwabold Olajide
