FinanceLane
  • Funding
    • Equity Funding
    • Debt Funding
    • Crowdfunding
    • Real Estate Funding
  • Investing
    • Stocks
    • Bonds
    • Mutual Funds
    • Commodities
    • Forex
    • Private Equity
    • Real Estate
    • Crypto Investing
  • Lending
    • Personal Loan
    • Business Loan
    • Mortgage
    • Credit Card
    • Microfinance
    • Peer-to-Peer Lending
  • Insurance
    • Life Insurance
    • Health Insurance
    • Auto Insurance
    • Education Insurance
    • General Insurance
  • Banking
    • Individual Banking
    • Business Banking
    • Investment Banking
    • Neo Banking
    • Payments Bank
  • Crypto
    • Crypto Coins
    • Crypto Trading
    • Bitcoin
    • Blockchain
    • DAPP
    • Crypto Investing
  • Wealth
    • Earning
    • Savings
    • Investments
    • Budgetting
    • Credit Management
    • Tax Planning
    • Retirement
  • Fintech
    • Payments
    • Digital Banks
    • Alternative Financing
    • Asset Management
    • Softwares
  • Venture
    • Startup Ecosystem
    • Merging & Acquisition
    • Equity Investing
    • Franchising
    • Business Offers
  • Login
No Result
View All Result
crypto
  • Equity Funding
  • Stocks
  • Mutual Funds
  • Credit Cards
  • Loans
  • Insurances
  • Savings
  • Crypto Trading
FinanceLane
Home Crypto Bitcoin

1.1m XRP Tokens Dumped by Ripple Co-Founder Jed McCaleb

BlockchainbyBlockchain
July 18, 2022
in Bitcoin, Blockchain, Blockchain News
Reading Time: 2 mins read

Ripple co-founder and former Chief Technology Officer (CTO) Jed McCaleb resumed selling his Ripple reserves and liquidating 1.1 million Ripple tokens.

Jed McCaleb’s “Tacostand” wallet has only 46.7 XRP left, according to blockchain browser XRP Scan.

The price of XRP was trading at $0.3654, up 2.93% in the past 24 hours. The asset has down nearly 90% from its January 2018 all-time high of $3.40.

At current prices, Jed McCaleb has cashed out a total of $401,940, leaving only $17 worth of XRP left in the account.

Founded by RippleLab’s Chris Larsen and Jed McCaleb in 2012, Ripple is a global payment system that aims to replace the SWIFT system of cross-border payments with their open-source distributed ledger technology, the Ripple Transaction Protocol (RTXP).

Before leaving Ripple, McCaleb received 9 billion Ripple and agreed that he could sell Ripple. Still, only a certain amount of Ripple per day to ensure that the transaction would not affect the market. Ripple price was negatively affected.

McCaleb was awarded 9 billion XRP, of which roughly over 6 billion have already been disposed of.

In late 2020, the SEC charged Ripple Labs and its co-founder Chris Larsen and CEO Brad Garlinghouse with selling Ripple since2013 without officially registering it as a security.

This is seen as a means for the co-founders to get rid of Ripple’s reserves, especially as the SEC lawsuit has led to the ongoing devaluation of Ripple.

With the eventual sell-off, XRP proponent “XRP whales” claimed on Twitter that:

“Recently Jed McCaleb has sold off his remaining 5M $XRP. You now own more XRP than him.”

Jed McCaleb ends the eight-year sell-off of his XRP holdings.

Image source: Shutterstock Read The Original Article on Blockchain.News

Tags: AltcoinsBitcoinBlockchainJED MCCALEBRippleXRP

Related Topics

Blockchain

Opensea Opens Bulk NFT Listings & Purchases for Users

Bitcoin

Bitcoin’s Lightning Network Capacity Crosses 5,000 BTC Benchmark

Prev Next

You May Like

Blockchain

Opensea Opens Bulk NFT Listings & Purchases for Users

Bitcoin

Bitcoin’s Lightning Network Capacity Crosses 5,000 BTC Benchmark

Advisory

Bank FDs vs post office term deposit: Which offers senior citizens higher interest rate for short term

Blockchain

Crypto.com Offers Google Pay and Apple Pay Support for Canadian Users

Blockchain News

Coinbase Introduces PayID and Premium Services for Aussie Retail Customers

Blockchain News

Yuga Labs Sets Up BAYC Community Council to Boost Innovations

Advisory

Central govt employees: General Provident Fund (GPF), CPF interest rates announced for Oct-Dec 2022 quarter

Bitcoin

Bitcoin Crosses $20K Mark, as Whales Continue to Accumulate Tokens

Financial News

Advisory

MF portfolio doctor: Ajbani needs to review investment portfolio and weed out underperformers

FinanceLane
by FinanceLane
Advisory

These new credit, debit card rules will come into effect from July 1, and these from Oct 1

FinanceLane
by FinanceLane
Advisory

Kotak Mahindra Bank hikes FD interest rates

FinanceLane
by FinanceLane
Bitcoin

Mining company Argo Blockchain to Launch Flagship Mining Facility in Texas

Blockchain
by Blockchain
Bitcoin

Legalizing Crypto Payments Will Happen “Sooner or Later”: Russia Trade Minister

Blockchain
by Blockchain
Advisory

Equity funds: 7 ways to good return on investment

FinanceLane
by FinanceLane
Bitcoin

22 Bitcoin ATMs Established Globally Per Day in March, Study Shows

Blockchain
by Blockchain
Advisory

PM Kisan eKYC deadline extended to July 31, 2022: Check details

FinanceLane
by FinanceLane
Bitcoin

Zero-gas DeFi Ecosystem XODEX Launches its Testnet

Blockchain
by Blockchain
Blockchain News

Scaramucci’s Skybridge Capital to Launch Venture Fund for Web3 & Crypto Investments

Blockchain
by Blockchain
Advisory

PNB offers extra 0.80% FD interest rate for these senior citizens on all tenures

FinanceLane
by FinanceLane
Bitcoin

Bitcoin $30K Resilience Amid Crypto Meltdown and Stablecoin Crash Shows its Brilliant Architecture – PayBito CEO

Blockchain
by Blockchain
Load More
FinanceLane.com
  • Disclaimer
  • Privacy Policy
  • Terms of use
  • Subscribe
  • Contact

Subscribe to get the latest updates

Follow us on

© 2022 FinanceLane.com. All rights reserved.

  • Home
  • Funding
    • Equity Funding
    • Debt Funding
    • Real Estate Funding
    • Crowdfunding
  • Investing
    • Stocks
    • Bonds
    • Mutual Funds
    • Private Equity
    • Merging & Acquisition
    • Real Estate
  • Lending
    • Personal Loan
    • Business Loan
    • Credit Card
    • Microfinance
    • Peer-to-Peer Lending
  • Insurance
    • Life Insurance
    • Auto Insurance
    • Education Insurance
    • Health Insurance
  • Banking
    • Business Banking
    • Payments Bank
    • Investment Banking
    • Individual Banking
  • Wealth
    • Earning
    • Savings
    • Investments
    • Budgetting
    • Credit Management
    • Tax Planning
    • Retirement
  • Fintech
    • Alternative Financing
    • Payments
    • Asset Management
    • Digital Banks
    • Softwares
  • Fintech
    • Alternative Financing
    • Asset Management
    • Digital Banks
    • Softwares
    • Payments
  • Crypto
    • Crypto Investing
    • Crypto Trading
    • Crypto Coins
    • Bitcoin
    • Blockchain
    • DAPP
  • Subscribe
  • Contact
  • Login

© 2022 FinanceLane - Terms and Conditions | Disclaimer | Privacy Policy

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.