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Ripple Co-Founder Jed McCaleb Abandons Stellar Lumens after Making Billions from XRP Sales


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Over the past 8 years, Jed McCaleb, the Ripple co-founder that abandoned the company a couple of years ago, has been selling the 9 billion XRP tokens he received for being one of the founders of Ripple. And he will run out of XRP on the 16th of July 2022, according to the popular crypto researcher, Leonidas Hadjiloizou.

Sharing the screenshots of his XRP balance, Leonidas tweeted, “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. 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.”

Jed McCaleb Abandons Stellar Lumens (XLM)

Jed McCaleb started working on Ripple back in 2011 and was one of the founders when it launched in 2013. But later abandoned the project in 2014 to work on Stellar Lumens (XLM).

When departing the company, McCaleb was awarded about 9 billion XRP tokens for cofounding OpenCoin, which was later rebranded as Ripple.

After receiving the whopping funds on a fixed schedule, he made it clear that he plans on selling all the funds. He will finally get rid of his 9 billion XRP on the 16th of July. This implies that the whopping selloff took him 8 years, 1 month, and 25 days, as aforementioned by Leonidas.

A new report that is making the rounds says that McCaleb has also abandoned the Stellar Lumens blockchain project. This was recently shared by Ben Armstrong, a popular crypto YouTuber and creator of BitBoyCrypto.com.

https://timestabloid.com/ripple-co-founder-jed-mccaleb-abandons-stellar-lumens-after-making-billions-from-xrp-sales/

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I would buy some xlm if true, but I think it isnt - theres a thread in stellar reddit where someone at the SDF clarified to not trust any random twitter sources on that matter... But they didnt specifically say that jed's still there, tho

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