Ripple CTO has sold another 150 million XRP in the past three weeks.
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Jed McCaleb, who co-founded Ripple Labs with Christopher Larsen in 2012 and is the company’s first chief technology officer, has sold 150.7 million XRP from his stash in the past three weeks. McCaleb’s “tacostand” cryptocurrency wallet has 590 million XRP left.
Jed continued to sell his XRPs after receiving 291 million XRP from Ripple. According to the XRPscan website, since June 21, McCaleb has withdrawn 150.7 million XRP tokens and sent them to exchanges for sale. This measure of cryptocurrency is equivalent to $98,169,275 in prestige currency. While McCaleb regularly sells XRP, he divides his XRP into stashes and sells it in small processes every week.
Over the past three weeks, the size of processes has decreased from 6,036,204 XRP to 4,896,458 XRP and subsequently increased to 9,859,906 XRP. In the last two days, Jed has sent 5,846,888 coins to exchanges and this size will remain for the next five days. On June 7, it received an XRP process from Ripple at the cost of 291,570,223 tokens. It was one of Ripple’s regular XRP transfers to its co-founder as part of a settlement agreement, and it has been doing so since 2013.
The community expects McCaleb to sell the rest of his XRP riches by the end of August this year.