Recently published data shows that, this week, former chief technology officer of Ripple Labs (and its cofounder), Jed McCaleb, has been releasing 18,558,414 XRP every day to be sold.
Jed McCaleb sells 92.5 million XRP this week
According to XRPscan, since Sunday, April 25, Jed McCaleb—who helped to create Ripple Labs (known as Opencoin until 2015)—has been sending 18.5 million XRP from his "tacostand" wallet to be sold.
That makes it a whopping 92.5 million XRP tokens in total: $129,264,015 in fiat.
The remaining amount of XRP in McCaleb's wallet as of now is 248,075,429 coins.
As reported by U.Today at the start of the week, over the previous seven days, the former CTO of blockchain giant Ripple had sold a staggering 202 million XRP ($231,899,940 at the XRP exchange rate on that day).
Last week, McCaleb was selling 22.5 million XRP per day. This week, he has been releasing four million XRP less per day.
Overall, Jed has less than two billion XRP left (beyond "tacostand").
At press time, the fourth-largest cryptocurrency, XRP, is changing hands at $1.40, according to data from CoinMarketCap.
Ripple plans to go public after the SEC lawsuit: SBI CEO
As reported by U.Today earlier, the CEO of the SBI Group financial giant, Yoshitaka Kitao, said during the recent earnings presentation call that Ripple plans to perform a public offering of its shares after it is done with the SEC-initiated lawsuit.
Kitao pointed out that this is the desire of Chris Larsen, who founded Ripple together with Jed McCaleb. By the way, Larsen and CEO Garlinghouse are also defendants in the SEC case against Ripple Labs.
The company and its two highest-ranking executives are accused of illegal XRP sales—with these tokens referred to as "unregistered securities" by the SEC agency—and making over $1.2 billion in profits from it.
However, Jed McCaleb was not mentioned in the official legal complaint filed by the SEC in late December 2020.