Jed McCaleb was the Ripple co-founder and chief technology officer of the company, along with Christopher Larsen. Jed McCaleb has sold 150.7 million XRP in the last three weeks.
McCaleb continues to sell Ripple-issued coins to the market. McCaleb’s “tacostand” cryptocurrency account has 590 million XRP left.
Jed received 291 million XRP from Ripple and continues to slowly sell tokens. According to the XRPscan website, since June 21, McCaleb has sent 150.7 million XRP tokens to exchanges for sale.
The total amount of crypto sold is equivalent to $98,169,275 in fiat currency.
Jed McCaleb keeps selling XRP
McCaleb regularly sells XRP, dividing his XRP coins and continuing to sell in small transactions every week.
McCaleb first realized the size of transactions at 6,036,204 XRP in the last three weeks. His other transaction fell to 4,896,458 XRP, and finally rose to 9,859,906 XRP. Jed has sent 5,846,888 XRP coins to exchanges in the last two days.
McCaleb received an XRP transaction worth 291,570,223 tokens from Ripple on June 7. One of the deals Ripple made with its co-founder was regular XRP transfers, and this has been done regularly since 2013.
The Ripple community expects McCaleb to sell the rest of his XRP fortune by the end of August.
62 Million XRP transferred by Coinbase
Finally, 62 million XRP transactions were made through Coinbase, with some people waiting for the exchange to reinstate XRP.
Coinbase, the largest US-based (and publicly traded) crypto exchange, has transferred 62 million XRP coins between its wallets.
A Twitter user claimed that Coinbase, which was suspended in January due to the SEC’s lawsuit against Ripple, may resume trading XRP after July 28.
July 28 has been set as the deadline for US Senator Elizabeth Warren’s SEC chair Gary Gensler’s plan to properly regulate the cryptocurrency market. Last week, Warren asked Gensler to take action, explaining in his official statement that cryptocurrencies Bitcoin, Ethereum and other assets are all “highly illogical and explosive.”
Earlier last week, Twitter CEO Jack Dorsey (a Bitcoin advocate) unfollowed Warren on the social media platform after he made an anti-Bitcoin speech in the Senate on June 9.