Jed McCaleb, co-creator of XRP Ledger and founder of Stellar, held a Zoom conversation with CTC News reporters on Friday. He announced in a Zoom call that he will not sell his last 5 million XRP. He explained that the remaining altcoin assets will be some form of security for his family. Here are the details…
McCaleb does not sell altcoins
Jed McCaleb was well known in the cryptocurrency space, driven by an unending dump that started a little over eight years ago. The former CTO of Ripple has announced that this is over as he is now left with just five million XRP out of the total of nine billion. “If you think about it, it would be really stupid of me to sell them all. So, what if it really goes to $589 per token? I can be rich!” used his statements.
A few days ago, the XRPscan wallet dropped to 2.77 million XRP. However, McCaleb added another 2.8 million XRP. He said he woke up at night in a cold sweat and realized he couldn’t let go of all he had. I don’t know, maybe it’s inflation, maybe the cost of gas, you know, but I have a feeling that holding the rest of this XRP will give me and my family more security,” he said.
Ripple and SEC: Magistrate dismisses SEC’s attorney-client privilege claims
For the ongoing Ripple v SEC lawsuit, Magistrate Sarah Netburn dismissed the US Securities and Exchange Commission’s (SEC) attorney-client privilege claims. The judge insisted that all documents had to be submitted as the SEC tried to trigger attorney-client privilege once again to conceal documents related to William Hinman’s speech. As we have also reported on Kriptokoin.com, the judge called the SEC’s behavior “hypocritical”. Because the commission continued to argue that the conversation was unrelated to crypto regulation and that Hinman had sought legal advice from the SEC advisor.
XRP trading volume increased
Meanwhile, on-chain analytics firm Santiment says the crypto asset may be worth watching given the spike in XRP trading volume in the last hours of Friday. According to Santiment, the XRP network saw a significant anomaly to close the week. The 73 millionth ledger for XRPL was successfully closed on July 15, a new success for the project. Updates on the Ripple-SEC case, defense attorney James K. Filan shared a transcript of the June 7, 2022 hearing before Magistrate Netburn, where both parties discussed the Hinman attorney-client privilege claims.
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