According to Leonidas, the founder of XRPArcade and Ripple, Jed McCaleb, Ripple Co-founder, will sell his XRP holdings in this week.
McCaleb would sell 4.215 million units per day of XRP this week. McCaleb would sell the remaining 22.16 millions XRP by July 16.
Jed will sell 4.215MXRP per day during this week. His 22.161MXRP will expire on Saturday, 16 July 2022.
Jed spent 8 years, 1 Month, and 25 Days since he announced his sales to finally get rid his 9BXRP.
Jed, best of luck
— Leonidas (@LeoHadjiloizou) July 10, 2022
It took him eight years and one month to sell his 9 billion XRP assets.
A website that tracks McCaleb’s XRP holdings (Jed balance) showed that less than 18,000,000 XRP tokens were left in McCaleb’s wallet as of press time. These tokens are valued at around $5 million.
In May 2014, the former Chief Technology Officer at Ripple announced that he would be selling all of his XRP holdings.
Reactions from the Crypto community
This might be the end of Jed McCaleb’s association with XRP. However, the decision to sell continues raising questions in the crypto community. Many are asking who he was selling to.
But to whom did he sell?
— @nmle (@MurrayEddy1) July 10, 20,22
Some wonder why Ripple and his executives were not included in the Securities and Exchange Commission’s (SEC) lawsuit over unregistered securities.
Federal regulators have not tried to stop him selling his XRP holdings.
McCaleb is still an active player in the crypto world. He was also the founder of Mt Gox, the most popular crypto exchange that crashed due to hacking in 2014.
He left Ripple to launch Stellar (XLM), a new payment network.
Jed McCaleb, Ripple’s co-founder, will sell XRP holdings before July 16 CryptoSlate.