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4.42 Billion XRP Linked to Ripple Co-Founder Jed McCaleb – Here’s How Much He’s Selling

by Daily Hodl Staff
May 19, 2020
in Ripple and XRP
[the_ad id="93550"]

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

Tx: https://t.co/NpEDS87aXh

— 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.

McCaleb’s addresses can be tracked here, here, here and here.

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
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