Distributed ledger company Ripple has confirmed that Jed McCaleb, its former co-founder, has sold off his entire XRP holdings. McCaleb finally executed his last outgoing XRP transfer of 1.1 million XRP on Sunday. It marked the end of a $9 billion dumping spree initiated by him after leaving the company.
<h2>Jed McCaleb Empties His Entire XRP Wallet</h2>
Ripple said in a blog post that McCaleb sold the last of his XRP holdings in his "tacostand" wallet over the weekend.

https://twitter.com/Ripple/status/1549111053098881024

Commenting on the development, Ripple CEO <a href="https://twitter.com/bgarlinghouse" target="_blank" rel="nofollow noopener">Brad Garlinghouse</a> joked in a sarcastic tone:

https://twitter.com/bgarlinghouse/status/1549122015809904647

The former Ripple founder executed his last outgoing XRP transfer of 1.1 million XRP, worth $394,742.18, at 6:31 am UTC on Sunday, according to blockchain explorer XRP Scan. Hours later, the account listed an "ACCOUNT DELETE" transaction, meaning it would no longer exist on XRP's ledger.

McCaleb received about 9 billion units of XRP back in 2012, equivalent to 9% of the 100 billion XRP supply together with other co-founders. He was allowed to sell or transfer the funds under specific <a href="https://www.cryptoknowmics.com/news/voyager-digital-requests-bankruptcy-court-to-respect-withdrawals/" target="_blank" rel="noopener">withdrawal</a> conditions.

McCaleb said he would start selling his XRP stash "as quickly as possible." Eventually, he agreed with Ripple to liquidate his remaining <a href="https://www.cryptoknowmics.com/news/here-are-the-top-5-metaverse-tokens-of-the-week/" target="_blank" rel="noopener">tokens</a> based on the daily trading volume. After exiting the company in June 2013, he founded the competing firm Stellar a year later.

At the time of writing, XRP is currently trading at $0.35, down 2.2% from the past 24 hours but up 12.4% from the past week. In the meantime, the digital asset is down almost 89.6% from its January 2018 all-time high of $3.40.

Ripple Officially Confirms That Jed McCaleb Is Done Selling XRPs

Distributed ledger company Ripple has confirmed that Jed McCaleb, the former founder has sold off his entire XRP holdings.

Jafrin is a cryptocurrency journalist/researcher fascinated by the world of decentralization. She is hopeful towards blockchain’s innovation and its potential to reshape the world for good. Currently, she is bringing out the best of cryptosphere via covering the latest ins and outs of the blockchain space.

Ripple Officially Confirms That Jed McCaleb Is Done Selling XRPs

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