The end of an era. Former Ripple Labs founder Jed McCaleb is nearing the end of his eight-year Ripple dump, with only 81.53 million XRP remaining in his wallet’s balance.
The former Ripple executive has been methodically selling off chunks of his once nine-billion-strong XRP holdings since he left the company in 2014.in 2012 , receiving a share of 20 billion XRP, which was distributed to all three founders, which also include Chris Larsen and Arthur Britto.
McCaleb left in 2014 after a reported fallout with Ripple executives, taking with him his entire XRP share, which equated to around 9% of the total supply. Later that year, he co-founded rival payment protocol Stellar. Fearing a market crash should McCaleb offload his entire holdings at once, Ripple Labs and the former executive agreed toThe lock-up plan dictated that for the first year, he could not sell more than $10,000 worth of XRP per week. The plan would loosen up over time, raising the amount he could offload to $20,000 worth of XRP per week for the three years following.to 1 billion XRP per year.
He took several months’ break from selling from September 2021 to the start of January 2022 and has been steadily offloading XRP again since then.
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