Ripple Co-Founder Jed McCaleb Now Has Less Than 50 XRP. Here’s His Wallet Balance

[solodeji]

Jed McCaleb, co-founder and formal CTO at Ripple, is now left with less than 50 XRP in his wallet codenamed tacostand.

According to XRPScan, the platform that monitors XRP transactions, the last major transaction by McCaleb was initiated on the 17th of July 2022. The transaction carried about 1,108,826 XRP. Following his last major sale, the wallet received a few amounts of XRP, making his balance 46 XRP only at the time of filing this report.

Since abandoning Ripple in 2014, he has been selling his 9 billion XRP in millions. This whopping amount of XRP was his share of being a Ripple co-founder.

On Friday, when his balance was standing at 5 million XRP, he said he will keep the remaining amount just in case the digital token rallies in the long run.

As reported by CTC News, McCaleb said this in a Zoom call. He stressed that "If you think about it, it would be really stupid if I sell it all. I mean, what if it really does go to $589 a token? I could be RICH!"

He continued, “I dunno, maybe it's this inflation, maybe the cost of gas, you know. But I just have this feeling that holding the rest of this XRP is gonna give me and my family more security."

Jed McCaleb Allegedly Abandons Stellar Lumens (XLM)

After leaving Ripple in 2014, McCaleb went to start working on a new project, Stellar Lumens (XLM), a cryptocurrency regarded as a major competitor of XRP in the crypto industry.

However, considering a new report making the rounds, the former Ripple CTO has also abandoned the Stellar Lumens project.

Reacting to the report of abandoning the Stellar project, Lark Davis, a popular crypto proponent, admitted that McCaleb is the real winner from XRP, which is why he had to abandon Stellar Lumens. He said he does not need Stellar because he already has billions to spend.

Lark Davis said, “Jed is the real winner from XRP. Made 9 billion profits. No wonder he has left Stellar. Like seriously dude, go spend your billions and chill. No one needs Stellar anyway.”

https://timestabloid.com/ripple-co-founder-jed-mccaleb-now-has-less-than-50-xrp-heres-his-wallet-balance/

[Julian_Williams]

People say Jed's sales had no noticeable effect on price.  It was 9 billion in total, which is nearly 20% of circulating supply.  Of course distribution of tokens is good and of course this volume of XRP released into the market has diluted price.

Personally I beleive there should be strict conditions on how much crypto founder get an how fast they are allowed to release them on to the market.

 

how much XLM does he own?

Edited July 18, 2022 by Julian_Williams

[BillyOckham]

1 hour ago, Julian_Williams said:

and of course this volume of XRP released into the market has diluted price.

I don’t think that is correct.

 

Price is a tricky thing….   it mostly reflects market belief,  but it is also affected at times by the “mechanics” of the market.

Mechanics as in….   if you dumped that 9 billion all at once it would take the coin to near zero.  But conversely,  if you dribbled it out into volume it might have near zero effect.

Because of how the bot operated (with appropriately sized tranches placed into the order book ABOVE the spread),  I don’t think it actually had much effect at all.

There may have been times (at downturns in volume and price) where it was a bit price affecting,  but I think they were rare moments and the market was turning anyway.  All in all I don’t think it was significant and perhaps it even helped with liquidity.

But that is an unpopular and perhaps counterintuitive viewpoint,  so I don’t expect to convince those who believe it ‘obviously’ affected price.

If there is any pump (particular to ONLY XRP) as news of this circulates,  then I expect it will be short lived and purely an emotional response.  Those who feel the price has been suppressed by Jed sales are going to be sorely disappointed by the lack of effect I think.

 

[Guest]

31 minutes ago, BillyOckham said:

I don’t think that is correct.

 

Price is a tricky thing….   it mostly reflects market belief,  but it is also affected at times by the “mechanics” of the market.

Mechanics as in….   if you dumped that 9 billion all at once it would take the coin to near zero.  But conversely,  if you dribbled it out into volume it might have near zero effect.

Because of how the bot operated (with appropriately sized tranches placed into the order book ABOVE the spread),  I don’t think it actually had much effect at all.

There may have been times (at downturns in volume and price) where it was a bit price affecting,  but I think they were rare moments and the market was turning anyway.  All in all I don’t think it was significant and perhaps it even helped with liquidity.

But that is an unpopular and perhaps counterintuitive viewpoint,  so I don’t expect to convince those who believe it ‘obviously’ affected price.

If there is any pump (particular to ONLY XRP) as news of this circulates,  then I expect it will be short lived and purely an emotional response.  Those who feel the price has been suppressed by Jed sales are going to be sorely disappointed by the lack of effect I think.

 

I’m not sure about the price but the DEX liquidity should be interesting to watch for the next few weeks. Jed alone was supplying a conservative ~30M XRP worth liquidity to the DEX.

Edit: For example,

I don’t have my Tangem card with me so I can’t log on to my account, but will check it out over the next couple of days.

Edited July 18, 2022 by Ripley