Ripple co-founder Jed McCaleb recently went to the X Social Media Network to talk about XRP sales.
McCaleb refused to try and harm investors because he was upset with the decision to Ripple terminology.
Cryptocurrency Mogul claims he told the community that he was leaving the company because he no longer believes in the project. McCaleb argues that his intention is to get people to take him to the forefront.
“The intention was to get people to frontrun me. Another way was to sell without telling people. Is that better?” he added.
50-year-old investors too It is listed This is why he was not targeted by the SEC as he was never involved in promoting XRP as an investment.
McCaleb is one of the company’s co-founders, and was given a total of 9 billion XRP in 2012. He left Ripple in 2013 and proceeded to co-founding Stellar, a competing project.
In 2014, McCaleb reached an agreement with Ripple and gradually sold the tokens. His initial sales were limited to $10,000 per week. Ripple then sued McCaleb, accusing him of exceeding contractual restrictions and violating the terms of the 2014 contract. After the settlement, they reached a new contract in 2016. With this agreement, McCaleb’s sales were tied to XRP’s trading volume.
As Reported by U.TodayMcCaleb eventually ran out of XRP and sold it in 2022.
Ripple CTO David Schwartz before I insisted McCaleb tried to throw away all of his XRP at once, but the company prevented him from doing this in legal action. “He’s probably the only person to become a homemade billionaire despite his best efforts,” Schwartz said in his Quora response.
Billion Dollar Bets on Space
McCaleb, who founded the infamous Mt. Gox Exchange, won a whopping $3.2 billion by selling shares in XRP Holdings and the company.
The crypto billionaire recently re-emerged the spotlight after Bloomberg It has been reported His crypto assets are currently being used to fund the development of the first commercial space station.
