The transferred funds valued at more than $26M.
McCaleb is currently the CTO and founder of Stellar Lumens.
Jed McCaleb, the founder and ex-CTO of Ripple, is mass dumping his XRP tokens onto the market from the past two years. Earlier, the Wall Street Journal had reported that McCaleb was selling 40,000 XRP each day. Recently, a large sum of 100,000,000 XRP ($26.3M) was received by McCaleb to his wallet. This could bring back the mass-selling into the picture again which had descended in 2019.
McCaleb’s purpose of accumulating hefty revenue from his mass-selling is still not known. He is the CTO and founder of Stellar Lumens, Ripple’s competitor, and founder of Mt.Gox, the infamous Bitcoin exchange. The 100m XRP will undoubtedly be launched in the market, but the time of its launch is uncertain. The start could be upsetting for the XRP holders as the cryptocurrency has not been the best performer recently.
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