The former Ripple CTO continues to cash out XRP assets after suspending it for a while due to the SEC case against Ripple.
Researcher Leonidas Hadjiloizou shared that Ripple founder Jed McCaleb, the first chief technology officer who later left the company, continued to sell the XRP storage and sold 28.6 million XRP from the “tacostand” crypto wallet.
The total amount of this sale corresponds to $ 8,816,457 at the current XRP price.
Ripple co-founder continues XRP sales
According to a tweet posted by Leonidas Hadjiloizou on January 18, Jed McCaleb sold 28.6 million XRP. This was Jed McCaleb’s first sale after a 25-day break.
On December 23, McCaleb sold 11,069,266 XRP and then cut sales, according to data from analytics website Bithomp.
Hadjiloizou states that the reason for this breakout is the SEC case.
McCaleb’s XRP sales
The researcher reminded the community that McCaleb previously stopped selling XRP. However, he said this was to allow the charity to which he donated XRP to sell cryptocurrencies.
Hadjiloizou believes this time McCaleb may have consulted his lawyers, or halt the sales for many other reasons.
“Jed has stopped sales in the past to allow a charity to which he donated XRP to sell. However, this time it stopped its sales immediately after the case. There’s no way to know why it keeps going. He may have gotten advice from his lawyers. ”
In the comment title, he adds that McCaleb is in the process of selling another 9.7 million XRP.
Leonidas Hadjiloizou believes Ripple’s former CTO has approximately 3.4 billion XRP. The initial amount Ripple would pay its co-founder to help build the company was nine billion XRP.