According to recently shared data, in the last two weeks, the former CTO of Ripple has sold around 70 million XRP. The amount of altcoins sold is roughly $2.8 million.
Ripple founder sold millions of XRP, still has 183 million XRP in wallet
According to data provided by XRPscan, Jed McCaleb, who was involved in Ripple’s founding and was its first CTO for a year, is holding the remnants of XRP assets. continues to sell. In the last 14 days, around 70 million XRP has been dumped into the market from his wallet named “tacostand”. Jed McCaleb suspended XRP sales on September 1 last year and restarted it in early January. Since May 24, it has sold 69.11 million XRP out of the eight billion XRP it received as compensation when it left Ripple Labs to create rival Stellar.
To prevent him from selling all eight billion at once, he gradually took the money, one of the terms of the exit contract, thus saving the market from saturating with XRP, which would drive down the price. . Overall, since the beginning of the year, Jed has sold over half a billion XRP. Currently, 182,925,764 XRP remains on the crypto address.
Altcoin whale has sold half a billion XRP since January
Jed McCaleb continued to pour massive amounts of XRP into the crypto market, according to XRPscan. Since January, it has sold approximately 464.8 million XRP, which is equivalent to $186,790,421 at the current exchange rate. The amount of XRP sold each week ranged from 18 million to 26 million and 42 million.
How is the Ripple company during the sales
As we quoted as Kriptokoin.com, at the World Economic Forum (WEF) event in Davos, Ripple Labs CEO Brad Garlinghouse discussed the firm’s growth opportunities and talked about future mergers and acquisitions despite the downturn of the crypto economy. During his interview, Garlinghouse shared:
I think there will be an increase in M&A in the blockchain and crypto space. We haven’t seen this yet. But I think it’s likely in the future. And I definitely think we’ll be thinking about such things as this comes up.
There were a series of acquisitions in the crypto space during the second half of 2021 and the first quarter of 2022. For example, Coinbase acquired Fairx Exchange firm in January 2022 and Opensea also acquired Dharma Labs that month. In February, ethereum software company Consensys announced that it had acquired the Mycrypto wallet. The following month in March, partial investment firm Public announced the acquisition of NFT technology startup Otis.
Meanwhile, at the conference in Davos, Brad Garlinghouse received an offer from the President of Georgia to open a center in the country. Details can be found in this article.
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