Ripple Just Sent 100 Million XRP To Former CTO, Jed McCaleb
Ripple and its digital asset, XRP made headlines a lot, and this was mostly due to various achievements witnessed by the two entities.
The San Francisco-based company has been enjoying a lot of new partnerships, and the digital asset saw a lot of recognition.
Some XRP investors are about to be disappointed
Just the other day, we reported that some XRP investors are about to get disappointed, and here’s the reason.
The debate on whether Ripple owns too much control of the XRP ecosystem seems to be taking a new turn these days, according to the latest reports coming from the Daily Hodl.
The company responds to an XRP advocate who said that Ripple should drop all efforts to support and use XRP.
The advocate, who goes by the name XRP_News on Twitter, sent a message out to 23,000 followers urging Ripple to stay “far away” from XRP:
“Whatever Ripple is doing to help grow the XRP ecosystem, it’s clearly not working. Ripple please stay as far away from XRP as possible.”
The advocate also said: “We don’t want your help. We want an independent digital asset, for the people. Who agrees?”
Ripple responded to all of this.
Ripple sends 100 million XRP to Jed McCaleb
It’s been just reported that Ripple sent 100 million XRP to a wallet which belongs to the co-founder Jed McCaleb.
Whale Alert tracked Saturday’s transaction and this was worth $23.6 million when the crypto was transferred.
🚨 🚨 100,000,000 #XRP (26,322,440 USD) transferred from Ripple to Jed McCaleb wallet
— Whale Alert (@whale_alert) September 7, 2019
McCaleb used to be Ripple’s CTO before he left back in 2013 and launched Stellar in 2014.
On the other hand, it’s worth noting that he’s still holding a lot of XRP.
The portfolio was reportedly worth $20 billion during the XRP’s peak back in 2018.
He’s been pretty vocal regarding the intention to see all of his XRP holdings even though he entered an agreement with Ripple back in 2014 to stagger these sales in order to prevent tanking the crypto’s value.
Jed McCaleb is the CTO of Steller, which is an open-source, protocol for digital currency to fiat money. Prior to co-founding Steller, McCaleb was also the founder of Mt.Gox exchange as well as serving as the CTO to Ripple and is also known for creating Magic: The Gathering Online Exchange, and the peer-to-peer eDonkey and Overnet networks.