Jed McCaleb, co-founder and formal CTO at Ripple, is now left with less than 50 XRP in his wallet codenamed tacostand.
According to XRPScan, the platform that monitors XRP transactions, the last major transaction by McCaleb was initiated on the 17th of July 2022. The transaction carried about 1,108,826 XRP. Following his last major sale, the wallet received a few amounts of XRP, making his balance 46 XRP only at the time of filing this report.
We Are On Twitter: Follow Us
Since abandoning Ripple in 2014, he has been selling his 9 billion XRP in millions. This whopping amount of XRP was his share of being a Ripple co-founder.
On Friday, when his balance was standing at 5 million XRP, he said he will keep the remaining amount just in case the digital token rallies in the long run.
As reported by CTC News, McCaleb said this in a Zoom call. He stressed that “If you think about it, it would be really stupid if I sell it all. I mean, what if it really does go to $589 a token? I could be RICH!”
He continued, “I dunno, maybe it’s this inflation, maybe the cost of gas, you know. But I just have this feeling that holding the rest of this XRP is gonna give me and my family more security.”
Jed McCaleb Allegedly Abandons Stellar Lumens (XLM)
After leaving Ripple in 2014, McCaleb went to start working on a new project, Stellar Lumens (XLM), a cryptocurrency regarded as a major competitor of XRP in the crypto industry.
However, considering a new report making the rounds, the former Ripple CTO has also abandoned the Stellar Lumens project.
Reacting to the report of abandoning the Stellar project, Lark Davis, a popular crypto proponent, admitted that McCaleb is the real winner from XRP, which is why he had to abandon Stellar Lumens. He said he does not need Stellar because he already has billions to spend.
Lark Davis said, “Jed is the real winner from XRP. Made 9 billion profits. No wonder he has left Stellar. Like seriously dude, go spend your billions and chill. No one needs Stellar anyway.”
Brian Armstrong, a popular crypto YouTuber, who reacted to Lark Davis’s comment pointed out that the Ripple co-founder is clearly the winner because he made money more than others and was simply exempted from the ongoing Ripple-SEC case.