Jed McCaleb Sold 10 Million XRP Token At Once
Ripple Fintech Service paid 291 Million XRP tokens to Jed McCaleb for their contribution work in Ripple Fintech and McCaleb sold 10 million at once.
Ripple Fintech services preferred to use their own native token, XRP. Usually they pay their workers in XRP tokens which increases the use case of XRP tokens indirectly.
But it has been seen many times that the giants who received XRP payments, Sold their tokens in bulk.
Since it is ok and a person who owns assets can sell or hold as much as long he wants, it totally depends upon him.
But sometimes it causes a big sad thing for those who believe in XRP and have invested a bulk amount of funds for profit in the near future.
Related: Ripple Co-Founder Sold 240 Million XRP In This Month
And also a type of trust issue arises here because if the developers & contributors will not believe in their own project token then how a long term trader or holder can believe in that coin or token.
Jed McCaleb, worked one year as first CTO and for that he received a total payment of 291 million XRP token by the Ripple Fintech services.
And Jed McCaleb sold 10 Million of his XRP tokens, reports say.
According to whales alert, 10Million XRP transferred from McCaleb’s wallet to a Cryptocurrency Exchange.
The transaction travelled from Ripple Labs with 291,570,224 XRP tokens to the wallet of Jed McCaleb – “tacostand”.
The worth of the Ripple token according to current price is equivalent to around $192,347,323.
After selling his 10 million XRP token, he has 631,267,190 XRP tokens in his wallet.
McCaleb decided to leave the position of CTO from the Ripple Lani because of few discrepancies in the company but later an agreement was signed between McCaleb & Company to pay 9 Billion XRP to McCaleb as a compensation.
According to agreement McCaleb can’t sell all his coins at once because it may lead into XRP coin’s price zero.
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