Ripple Officially Confirms That Jed McCaleb Is Done Selling XRPs
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Jed McCaleb Empties His Entire XRP Wallet
Ripple said in a blog post that McCaleb sold the last of his XRP holdings in his "tacostand" wallet over the weekend.
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 withdrawal conditions.
McCaleb said he would start selling his XRP stash "as quickly as possible." Eventually, he agreed with Ripple to liquidate his remaining tokens 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.