Ripple paid over 63 million XRP to Jed McCaleb

Co-founder and former CTO of Ripple Jed McCaleb received a63,704,590 XRP.

According to Whale Alert, the translation wasmade from McCaleb’s “corporate” account, created for him under the agreement to withdraw from Ripple. The current value of XRP he received exceeds $ 12 million.

The transfer was made under an agreement betweenRipple and McCaleb. Previously, such payments were usually immediately available on exchanges and, presumably, exchanged for fiat currency. In early February, analysts concluded that in this way McCaleb had already sold more than 1 billion XRP, while he still had 4.7 billion XRP left.

Ripple co-founder himself commented on analysts' observations as follows:

“I never hid anything. Markets have always known that I sell my XRP slowly and continuously. I do not do this in order to negatively affect other companies in the industry. I think that my investment actions are not reflected in the market in any way, therefore I see no reason to change the established practice.

McCaleb has been developing the Ripple project withthe very beginning of its existence, but subsequently decided to leave and begin the development of the fork of Ripple, called Stellar. At the same time, he concluded an agreement with Ripple, according to which the company undertook to pay its share of XRP gradually, on a regular basis.

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