Ripple Co-Founder Jed McCaleb Announces Sell Out
Photo by _Mo. Jed McCaleb, co-founder of Ripple Labs (formally OpenCoin), announced on Wednesday that he will be selling the entirety of his XRP holdings, resulting in a 40% loss of exchange value over 24 hours. McCaleb began his message by recounting his history with OpenCoin, and revealing roughly how much XRP he controls, I started working on ripple in the summer of 2011. I soon hired Arthur and David to help me. In 2012, I met Chris Larsen. He joined us about 5 months before ripple was launched. Chris, Arthur and I kept 20 billion XRP, of which 9 billion were mine. We gave the....
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Ripple co-founder Jed McCaleb has finally unloaded his XRP on the market. McCaleb has been dumping the cryptocurrency since 2014 when he obtained 9 billion as compensation for his work in the payment company. Related Reading | Bitcoin Is ‘Here to Stay,’ Ex-BlackRock Investment Adviser Says – Better Than Gold? McCaleb parted ways with Ripple in […]
Ripple Labs co-founder Jed McCaleb has announced his intention to sell his sizable stake in the company's native digital currency. Known as ripples, or XRP, the currency was created as a unit of account and spam prevention tool within the Ripple Labs payment network. In a post on XRP Talk forum, entitled 'Selling my XRP', McCaleb made his intentions known: "I plan to start selling all of my remaining XRP beginning in two weeks. Because I have immense respect for the community members and want to be transparent, I'm publicly announcing this before I start." Price drop. In contrast to the....
When it rains, it pours, especially when it is raining bad news. If Ripple investors didn't believe that before, they certainly do now. Just yesterday, CCN reported that Ripple Labs co-founder Jed McCaleb decided to sell the entirety of his XRP stock, which decreased the XRP exchange value by an astounding 40% in less than 24 hours. Now, a board member has resigned, leaving investors anxious about the company's future. Ripple Board Member Jesse Powell Resigns in the Wake of Founder Sell-Off. In the wake of the troubling news about McCaleb's XRP liquidation, Ripple board member Jesse Powell....
A months-long legal dispute involving distributed ledger technology startup Ripple and its co-founder Jed McCaleb has come to an end. Though the settlement was announced in an 11th February post on the main Ripple forums, the dispute dates back to last spring when digital currency exchange Bitstamp filed suit over dueling claims on nearly 100m XRP – the native token of the distributed Ripple network – an amount worth just over $1m when the suit was filed. At the time, Ripple alleged that McCaleb had violated a 2014 agreement governing the sale of his XRP holdings, numbered at 9 billion....
Ripple Labs has reached an agreement that will prevent original co-founder Jed McCaleb from selling 9bn XRP - the portion of the protocol's native currency he was awarded for starting the company - this year. The open-source payment network provider issued the announcement in a blog post penned by director of communications Monica Long. The post said that McCaleb, who recently launched his new project Stellar, had agreed to a distribution timeline that will block him from selling more than a specific amount of XRP each year over the next seven years. Under the terms of the plan, McCaleb....