Ripple Co-Founder Jed McCaleb Sells over $170 Million Worth of XRP Tokens in 2022

As per the data shared by XRP Ledger explorer, XRPScan, so far this year Ripple’s Co-founder has sold over 450 XRP tokens.

McCaleb Sells 450 million XRPs in 2022

Jed McCaleb, Ripple’s Co-founder, sold over 450 million XRP tokens just this year. Considering the current price of $0.38 the tokens may have fetched McCaleb over $170 million. Notably, McCaleb still got around 220 million XRP tokens in his ‘tacostand’ wallet. At the current price it equals approximately $84 million.

Why is Jed McCaleb Receiving XRPs?

Since Ripple settled the lawsuit with McCaleb back in 2016, he has continuously been sent XRPs. It is to be remembered that Jed McCaleb had Co-founded Opencoin, later renamed Ripple, together with Chris Larsen back in 2013. McCaleb left Ripple in 2014 as he began to work on Stellar(XLM). Later McCaleb filed a suit against Ripple for not acknowledging his contribution to the firm. As stated above the lawsuit was settled in 2016. Under the settlement McCaleb is to receive XRP tokens in a certain pattern. With a Net worth of $2.2 billion, 47 years old McCaleb is the world’s 1238th richest person. He is listed by Forbes in ‘Forbes 400’.

Apart from Ripple and Stellar, McCaleb is also responsible for founding Mt. Gox “the first major Bitcoin exchange, which he sold a year later before it was hacked”.

According to Forbes most of McCaleb’s wealth comes from XRP tokens. However, it is to be noted that a significant portion of money McCaleb earns through selling XRP tokens goes to charity.

Danna James

Danna is a journalist and technical writer with six years of experience researching and creating crypto articles, reviews, and how-to guides for different online media outlets, and academic journals.

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