Former Ripple Co-Founder Sold …

Former Ripple Co-Founder Sold …

Ripple OBTAINS PATENT For On Demand Liquidity | Co-Founder INSISTS XRP Price NOT Tied To ODL


Former Ripple Co-Founder Sells 28.6M XRP After Long Hiatus

  • Former Ripple co-founder Jed McCaleb sells $ 8.58 million worth of XRP

  • McCaleb divested of coins a month after the SEC brought charges against Ripple Labs

  • Ripple CEO to negotiate with new SEC chairman

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Ripple co-founder Jed McCaleb sold another 28.6 million XRP this week, despite SEC allegations against Ripple Labs Inc and pending litigation.

Jed McCaleb continues to dump XRP tokens despite the project’s legal problems. The former co-founder sold another 28.6 million coins. At the time of this writing, the deal is estimated at $ 8.58 million.

Jed is back

After a 25-day hiatus, McCaleb returned to selling XRP, according to cryptocurrency data analyst Leonidas Hadjiloizu. The expert noted that McCaleb paused only the second time in all the time..

Jed’s Tacostand had paused XRP sales ever since the SEC lawsuit was announced. After 25 days of no sales, 28.6 million XRP was sold today.

– Leonidas Hadjiloizou (@LeoHadjiloizou) January 18, 2021

First time delayed cashing in tokens when a charity sold its donations.

Former Ripple Co-Founder Sold ...

Hadjiloizu believes McCaleb took a 25-day break on the advice of a lawyer.

McCaleb sells XRP regularly In 2020, former CTO sold over $ 400 million worth of XRP.

During his work and after leaving Ripple, McCaleb received approximately 4.7 billion tokens. Apparently, he has no plans to stop until he sells everything he has..

SEC launches XRP sales

The US Securities and Exchange Commission (SEC) has filed charges against the company as well as co-founder Christian Larsen and current CEO Bradley Garlinghouse.

The SEC said in a statement that Ripple raised more than $ 1.3 billion in funds through the illegal sale of unregistered securities.

Several major exchanges have already stopped XRP trading on their platforms. Most likely, the sites seek to distance themselves from the problem coin due to the claims of the regulator.

For Ripple, 2021 did not start well. The young project Polkadot bypassed XRP in terms of market capitalization. Polkadot is now ranked fourth on CoinMarketCap’s rankings as project price skyrockets to new all-time highs.

Over the past few weeks, token As the use of cryptocurrencies increases, new types of tokens are emerging. They can represent value or something intangible like voices. Two … More XRP dropped significantly. After a massive rally at the end of 2020, the coin’s price plummeted by more than 50%. XRP is currently trading at $ 0.28, up from $ 0.60 in mid-December.

Rating of cryptocurrencies by market capitalization. Source: Coinmarketcap

Ripple still has hope

Ripple may be in the spotlight that won’t go well for it. The head of the company Bradley Garlinghouse was delighted with the appointment of Gary Gensler to the post of head of the SEC. He wrote about this on his twitter. Gensler is called a supporter of bitcoin and blockchain technology in general.

Former Ripple Co-Founder Sold ...

Congrats to Gary Gensler! We’re ready to work with SEC leadership and the broader Biden administration to chart a path forward for blockchain and crypto innovation in the US.

– Brad Garlinghouse (@bgarlinghouse) January 18, 2021

Garlinghouse commented on the appointment, saying: “We are committed to working with the SEC leadership and the Biden administration in general to chart the trajectory of blockchain and cryptocurrency innovation in the US.”.


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