The four primary XRP addresses linked to Ripple co-founder Jed McCaleb now hold 4.42 billion XRP.
McCaleb served as the chief technical officer of the global payments startup before leaving in 2013 and launching the open-source money platform, Stellar, the following year. While he still holds a large personal trove of XRP, Ripple’s native cryptocurrency, he can only sell limited amounts according to the terms of a legal settlement with Ripple.
In early 2016, Monica Long, Ripple’s senior vice president of marketing, announced a modified settlement between the two parties, which McCaleb touted as a victory.
For the first year of the agreement, McCaleb was able to collectively sell 0.5% of the average daily volume of XRP for each day of the week, including weekends and holidays. In the second and third years, he could sell 0.75%, and in the current fourth year, he’s now selling up to 1%.
After year four of the agreement is over, McCaleb will be able to sell as much as 1.5% of the average daily volume.
Since the agreement, Ripple routinely transfers XRP from a settlement wallet to McCaleb each month.
? 55,079,321 #XRP (11,865,434 USD) transferred from Jed McCaleb Settlement to Jed McCaleb wallet
— Whale Alert (@whale_alert) May 1, 2020
As per the agreement, the former Ripple executive is also allocating up to 2 billion XRP to the charity of his choice.