Ripple’s co-founder Jed McCaleb has released about 40 million XRP from its tacostand wallet in the past two days. Data on transactions came from XRPscan.
This XRP address was registered during the first days of Ripple Labs (2012), where the company is known as Open Coin. It was renamed Ripple only in 2015.
McCaleb has been using this address since 2013, when he had inconsistencies with the board and left the company to create Stellar and XLM. As McCaleb left, the company set aside a good compensation as XRP for his assistance as Ripple’s co-founder and first CTO.
Ripple pays McCaleb regularly, and the most recent was detected by Whale Alert as a single transaction of 304,635,504 XRP.
On February 9 and 10, McCaleb sent about 40 million XRP for sale. According to data shared in late December 2020, total XRP assets and profits reached $ 1.2 billion. McCaleb’s wallet’s current balance is 499.599.172.60537 XRP.
McCaleb Not Afraid of SEC Case
In late December, the U.S. Securities and Exchange Commission (SEC) announced that it has filed a lawsuit against Ripple and its two highest-profile executives: CEO Garlinghouse and co-founder (and former CEO) Chris Larsen.
The lawsuit claims that XRP is a security and Ripple sold over 1 billion XRP, along with those top executives.
Shortly after the lawsuit was filed, McCaleb halted its XRP sales, and some of the community claimed it was due to the resulting SEC legal action. However, in January, McCaleb continued to sell XRP.