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54 million XRP tokens sold off last month by the co-founder of Ripple, Jed McCaleb

 
54 million XRP tokens sold off last month by the co-founder of Ripple, Jed McCaleb
Breaking News / Ripple / XRPUSD
  • Reports surfaced this week saying that Jed McCaleb has sold off at least 54 million XRP tokens between the 1st of April and the 30th of April. 
  • Based on data from the cofounders known addresses, the McCaleb seems to be liquidating his supply of the XRP tokens on a regular basis. 

Reports serviced earlier this week saying that the co-founder of the San Francisco-based technology company ripple, Jed McCaleb has sold off at least 54 million XRP tokens between the 1st of April and the 30th of April. 

Based on data from the cofounders known addresses, the McCaleb seems to be liquidating his supply of the XRP tokens on a regular basis. Data shows that the wallet addresses allegedly used by McCaleb to sell XRP received an average of 1.8 million tokens daily throughout last month.

Before we go any further though, it’s worth saying that we aren’t financial investors and this isn’t financial advice. Please do your own research before putting your money in a cryptocurrency and always remember to trade safe!

Jed is one of the more prominent figures in the cryptocurrency industry. He created the infamous Mt. Gox platform and even co-founded the Stellar network.

This massive supply of tokens has led to a significant round of controversy in regards to the co-founder when he announced his intention to sell a portion of his tokens. After a long time of negotiations, a seven-year agreement with Ripple limited his monthly and annual sales of the XRP token.

It will be interesting to see how this situation plays out. For more news on this and other crypto updates, keep it with CryptoDaily!

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