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Jed McCaleb, who helped to create Ripple and was its first CTO for a year, keeps selling the remnants of his XRP riches, according to XRPscan. Over the past 14 days, he has dumped roughly 70 million coins on the market from his wallet called “tacostand.”
Jed McCaleb suspended his XRP sales on Sept. 1 last year, resuming them in early January.
Since May 24, he has sold 69.11 million XRP from what remains of his eight billion Ripple-affiliated tokens received as compensation when leaving Ripple Labs to create rival Stellar.
He received the money gradually, which was one of his departure-contract terms, in order to prevent him from selling all eight billion at once, thus saving the market from being saturated with XRP, which would have pushed the price way down.
Overall, since the start of the year, Jed has sold more than half a billion XRP.
At the moment, 182,925,764 XRP remain on his crypto address.
Sourced from u.today.
Written by Yuri Molchan on 2031-10-21 09:38:07.