Ripple co-founder Jed McCaleb to finish selling XRP holdings by July 16

Ripple co-founder Jed McCaleb will sell out his XRP holdings this week, according to a tweet from XRP Arcade founder Leonidas.

McCaleb plans to sell 4.215 million units of XRP per day this week. He was scheduled to discontinue sales of his remaining 22.16 million XRP on July 16th.

Jed will sell 4.115MXRP per day this week. His 22.161 MXRP will be gone on Saturday, July 16, 2022.

It took eight years, one month, and 25 days from Jed’s announcement of the sale to the final removal of 9BXRP.

Good luck to Jed. pic.twitter.com/FyrnDHk8Ft

Leonidas (@LeoHadjiloizou) July 10, 2022

This means that it took him eight years, a month, and 25 days to complete the sale of 9 billion XRP holdings.

A website that tracks McCaleb’s XRP holdings at the time of the press, Jed balanceShows that there are less than 18 million XRP tokens left in the wallet and worth about $ 5 million.

Former Chief Technology Officer of Ripple announced plans to sell all XRP holdings in May 2014.

The crypto community reacts

This may mean that Jed McCaleb’s relationship with XRP has ended, but his decision to sell it. Continue to raise questions Within the crypto community, many asked who he was selling to.

But to whom did he sell it?

@Nmle (@ MurrayEddy1) July 10, 2022

Others wonder why the Securities and Exchange Commission (SEC) did not include him in the proceedings against Ripple and its executives over the sale of unregistered securities.

Federal regulators are also not trying to prevent him from selling XRP’s holdings.

Meanwhile, McCaleb remains active in the crypto space. Prior to Ripple, he was the creator of the MtGox exchange, the leading cryptocurrency exchange that crashed in 2014 due to hacking.

After leaving Ripple, he launched another payment network, Stellar (XLM).