Stellar CTO and Ripple co-founder Jed McCaleb sold $ 411 million worth of XRP in 2020, data show Whale Alert… This is equivalent to 1.2 billion XRP at an average token sale price of about $ 0.34, or 27% of the assets held in Ripple Labs wallets for a gradual transfer to the co-founder.
Analysts point out that McCaleb has significantly accelerated sales in 2020, as he liquidated a total of about 1 billion XRP from 2014 to 2019.
“With 3.274 billion XRP still owed to him, his total XRP capital and current sales are about $ 1.2 billion, making him one of the richest players in the cryptocurrency space,” Whale Alert wrote.
XRP, meanwhile, continues to lose support for trading platforms and services amid a US Securities and Exchange Commission (SEC) lawsuit against Ripple. Blockchain.com has joined the growing list, which will stop XRP trading on its platform on January 15th. Users will still be able to interact with the token using Blockchain.com as a wallet.
According to the observations of The Block, the number of “whales” with over 1 million XRP in their wallets has decreased by 8% over the past two weeks. On December 22, the day the SEC filed a claim, there were 1,705 such addresses, and at the beginning of this week – 1,562.
In addition to the SEC prosecution, Ripple also became a defendant in the lawsuit of its leading investor, Tetragon Financial Group. Commenting on the latest allegations, Ripple claims that they are unfounded, as it did not have an agreement with Tetragon that would allow it to claim a return on investment.
“We are disappointed that Tetragon is dishonestly taking advantage of the lack of regulatory clarity in the US. The courts will provide this clarity and we are extremely confident in our own position, ”says Ripple.
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