Main navigation

Jed McCaleb Has Been Dumping 18.5 Million XRP Daily This Week

News
Thu, 04/29/2021 - 09:53
article image
Yuri Molchan
Ex-Ripple's Jed McCaleb has released a substantial amount of XRP on a daily basis this week – 18.5 million - as his XRP stash is getting smaller
Jed McCaleb Has Been Dumping 18.5 Million XRP Daily This Week
Cover image via jedmccaleb.com
Read U.TODAY on
Google News

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 McCalebwho 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.

7384_0
Image via XRPscan

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.

Related
Jed McCaleb Shifts 202 Million XRP Over Past 10 Days While XRP Keeps Holding Above $1

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 saleswith these tokens referred to as "unregistered securities" by the SEC agencyand 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.

article image
About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.