- Ripple has released almost a billion XRP from escrow and sent another huge cache of XRP to co-founder Jed McCaleb. On the first day of 2021, Ripple has unlocked its regular XRP cache. However, this time it is a little less than usual and has released 900 million XRP instead of one billion XRP.
Ripple has released almost a billion XRP from escrow and sent another huge cache of XRP to co-founder Jed McCaleb. On the first day of 2021, Ripple has unlocked its regular XRP cache. However, this time it is a little less than usual and has released 900 million XRP instead of one billion XRP.
Despite the problems caused by the SEC legal litigation, the company sent the XRP to its former CTO, Jed McCaleb. Today, Ripple has sent 477 million XRP to it, which were not custody.
Thus, a total of 1.3 billion XRP was released by the company. Data provided by Whale Alert crypto tracker.
Ripple unlocks 900 million XRP
Fintech giant Ripple traditionally unlocks a billion XRP on the first day of each month. However, most of these funds are usually locked in escrow later the same day.
Unlocked 900 million XRP today. Its numerical value is 216 million dollars.
As of December 13, 2020, the company has distributed 45,425,790,652 XRP, according to the Ripple website.
48.200.000.013 XRP is locked in escrow and Ripple holds 6,365,030,048 XRP
Ripple uses its XRP to cover operational expenses, support promising projects and sell to corporate customers.
SEC files lawsuit against Ripple
On December 21, the U.S. regulatory SEC sued Ripple and two of its top executives – Brad Garlinghouse and its founder (former CEO and executive chairman of Ripple Labs) for allegedly selling XRP to institutional investors as unregistered securities for seven years. opened.
According to the SEC’s official complaint, the company made over $ 1 billion from these sales, and Larsen generated $ 600 million in revenue by selling XRP assets with Garlinghouse.
Jed McCaleb receives 477 million XRP from Ripple in 2021
Whale Alert also detected 477 million XRP sent to Ripple’s co-founder Jed McCaleb, who worked as Ripple CTO in the company’s early days. This amounts to $ 115.8 million.
Due to some inconsistencies with the Ripple board, McCaleb left Ripple in 2013 and found the rival Stellar platform for which he is now CTO.
As part of the settlement deal with Jed, Ripple is paying him 8 billion XRP piecemeal to prevent them from launching these massive cryptocurrencies at once.
According to data recently shared by Whale Alert, McCaleb’s total estimated assets and profits in XRP amount to $ 1.2 billion.