More On: Jed McCaleb
Jed McCaleb, co-founder of Ripple, will complete selling XRP holdings by July 16th
Jed McCaleb sold all of his 9 billion XRP holdings in eight years, one month, and 25 days.
According to a tweet from Leonidas, the founder of XRPArcade, on July 10, Ripple Co-Founder Jed McCaleb will sell out his XRP holdings this week.
This week, McCaleb plans to sell 4.215 million XRP units per day. On July 16, he planned to sell the remaining 22.16 million XRP.
Jed will be selling 4.215M XRP per day this week. His 22.161M XRP will run out on Saturday, the 16th of July 2022.
— Leonidas (@LeoHadjiloizou) July 10, 2022
It took Jed 8 years, 1 month, and 25 days since announcing his sales, to finally get rid of his 9B XRP.
Best of luck to Jed. 🌮 pic.twitter.com/FyrnDHk8Ft
This means that it took him eight years, one month, and twenty-five days to sell his 9 billion XRP holdings.
As of press time, Jed balance, a website that tracks McCaleb's XRP holdings, showed that there are less than 18 million XRP tokens left in the wallet, which is worth around $5 million.
In May 2014, Ripple's former Chief Technology Officer announced plans to sell all of his XRP holdings.
The cryptocurrency community responds
While this may be the end of Jed McCaleb's association with XRP, his decision to sell has sparked debate in the crypto community, with many wondering to whom he was selling.
But who did he sell to.
— @nmle (@MurrayEddy1) July 10, 2022
Others are perplexed as to why the Securities and Exchange Commission (SEC) did not include him in its lawsuit against Ripple and its executives for selling unregistered securities.
Federal authorities have also made no attempt to prevent him from selling his XRP holdings.
Meanwhile, McCaleb continues to be a force in the crypto space. Prior to Ripple, he founded the Mt Gox exchange, the leading cryptocurrency exchange that crashed in 2014 due to a hack.
He founded Stellar (XLM), another payment network, after leaving Ripple.
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