$1 Million Legal Fight Ensnares Ripple, Bitstamp and Jed McCaleb
Bitstamp has initiated legal action over more than $1m in disputed funds related to the sale of nearly 100m XRP last month. Bitstamp, which operates a Ripple gateway and bitcoin exchange, filed a complaint for interpleader on 1st April in the US District Court in the Northern District of California. Jed McCaleb, the founder of both Ripple Labs and Stellar, and two of McCaleb's family members were named in the complaint. The $1,038,172 in disputed funds were used by Ripple Labs to purchase 96,342,361.6 XRP put up for sale through an account allegedly controlled by McCaleb, according to the....
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The legal battle over roughly $1m in disputed funds continues between Ripple Labs and founder and ex-employee Jed McCaleb, with a flurry of new court filings over the past month setting the stage for conflict between the two sides. In total, $1,038,172 is currently being held by digital currency exchange Bitstamp, an amount that both Ripple Labs and the Stellar Development Foundation, McCaleb's current employer, are now seeking. Both sides have weighed in on whether the court should grant Bitstamp's request to be discharged from the case after it filed a complaint for interpleader on 1st....
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....
During the last few weeks, the former Ripple executive Jed McCaleb has reportedly been selling millions of XRP tokens and every sale has been monitored by the public. On Sunday, McCaleb dumped another 38 million XRP worth $22 million after selling 95 million XRP last week worth $56 million today. Ripple Cofounder Sells 38 million Coins on Valentine’s Day The cofounder and former Ripple executive, Jed McCaleb has been a topical conversation in recent days since the founder has been selling a lot of XRP. News.Bitcoin.com has been covering a number of McCaleb’s XRP sales in....
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 […]
According to onchain data analytics researchers, one of the founders of the company Ripple, Jed McCaleb allegedly sold 29.5 million XRP in a single day. McCaleb, an early cryptocurrency investor, and self-made entrepreneur is one of the richest men on the planet. There are a number of investors who happened to get into cryptocurrency at a very early time during the crypto economy’s history. The following editorial is the first of a series of articles that delve into some of the richest crypto investors worldwide. Jed McCaleb is an enigma and incredibly wealthy thanks to his early....