Jed McCaleb Takes A Break From Selling His XRP. Does This Mean He Doesn’t Want To let go entirely yet?
The fact that Jed McCaleb still has 5 million XRP on his taco stand, as shown by the data, gives the impression that he is pausing the process of selling them. Is it tough for him to let the past go and move on?
Jed McCaleb, a co-founder of Ripple Labs and former chief technology officer of Ripple, has been aggressively selling XRP for a long time. Prior data indicated that he would be done by July 16th, but the current figure shows he still holds 5.32M XRP worth $1.79M.
McCaleb was a part of the core team as CTO responsible for the 2013 establishment of Ripple. However, he finally severed relations with the company in 2014 and established another blockchain startup called Stellar. Before he left the company, Ripple rewarded him with around 9 billion XRP currency.
Because Ripple and its executives were accused of selling unregistered securities, the Securities and Exchange Commission (SEC) did not include him in its case against Ripple and its executives. In addition, federal officials have not made any effort to prevent him from selling his XRP holdings.
Meanwhile, McCaleb continues to be an influential figure in the cryptocurrency sector. Before founding Ripple, he was the founder of the Mt. Gox exchange, the dominant cryptocurrency trading platform, until it was hacked and shut down in 2014.
Following his departure from Ripple, he established Stellar (XLM), a competing payment network.
Jed McCaleb pausing selling his stash of XRP might mean he is taking a momentary break for a personal reason; it might also mean that he is finding it hard to let go, seeing as selling off his stash will break off the final strand of connection he has with Ripple.