It looks like Jed McCaleb has taken a break from selling altcoins. Previously, ex-Ripple official McCaleb, who was constantly on the agenda with XRP sales, has not been selling for a while. So why? Here are the details…
Jed McCaleb no longer sells altcoins
As the data shows, the fact that Jed McCaleb still has 5 million XRP in his cryptocurrency wallet called “tacostand” gives the impression that he pauses the process of selling them. Jed McCaleb, co-founder of Ripple Labs and former chief technology officer of Ripple, has been selling XRP aggressively for a long time. Previous data showed it would expire by July 16, but the current figure shows it still has 5.32 million XRP worth $1.79 million.
McCaleb was part of the core team as the CTO responsible for the founding of Ripple in 2013. However, he eventually broke off ties with the company in 2014 and started another blockchain startup called Stellar. Before leaving the company, Ripple rewarded him with nearly 9 billion XRP currency. Because Ripple and its executives were accused of selling unregistered securities, the U.S. Securities and Exchange Commission (SEC) did not include him in its lawsuit against Ripple and its directors. Also, federal officials did not make any effort to stop him from selling his XRP holdings.
Meanwhile, McCaleb remains an influential figure in the cryptocurrency industry. Prior to founding Ripple, Mt. He was the founder of the Gox exchange. After leaving Ripple, he founded a rival payment network, Stellar (XLM). Jed McCaleb’s stop selling his stash of XRP could mean he’s taking a momentary hiatus for a personal reason. It could also mean that he finds it difficult to let go, seeing that selling his stash will sever his final ties to Ripple.
XRP support expands: Here are the latest developments at Ripple
Meanwhile, Bitrue, a famous cryptocurrency exchange, has listed XRP with new pairs. As we have also reported as Kriptokoin.com, Bitrue is expanding XRP support with the listing of 10 new pairs. According to a recent tweet from the XRP-friendly crypto exchange, XRP will serve as a base pair for cryptocurrencies MANA, SAND, ALGO, BTTC, HBAR, AAVE, CHZ, DENT, APE and AR. According to WhaleStats, XRP remains one of the most used smart contracts among the top 1,000 BSC whales in the last 24 hours.
XRPL now has a testnet that offers smart contracts. According to XRPL Labs, Hooks Testnet V2 was quietly introduced a few months ago. Hooks Builder, a web-based development environment that allows developers to create, test, deploy, trigger and troubleshoot layer 1 smart contracts on XRPL, was also recently announced. The US Securities and Exchange Commission’s attorney-client privilege claims were dismissed by Magistrate Sarah Netburn in a victory for Ripple. The judge accused the SEC of “hypocrisy” after allegations that the 2018 Hinman speech had nothing to do with crypto regulation.
It also claimed that former SEC official William Hinman had sought legal advice from SEC counsel. “Evidence suggests that the predominant purpose of communications was not to provide legal advice,” the court said. Also, the former Ripple adviser has been confirmed as the Fed’s senior official. Michael Barr, a former Ripple adviser, will assume one of the most important regulatory positions in the United States, after being approved by the Senate to serve as vice chairman of audit at the Fed. In his new role, Barr will have a say in how the traditional financial system interacts with cryptocurrencies, particularly stablecoins essential for the crypto market as a whole.
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