Ripple sued YouTube for damage to its reputation

Former ripple technical Director jed McCaleb, who is also a co-founder of Stellar, sold about 1.8 million XRP tokens every day throughout April, selling more than 54 million coins in a month. Thus, the co-founder of the company was able to earn $11.5 million. However, it still has billions of XRP coins, reports TheCryptoAssociate.

The publication clarified that McCaleb is one of the largest holders of the ripple cryptocurrency. He and his children received more than 7 billion XRP tokens in 2012, which is more than $ 1.5 billion at the current exchange rate of $0.21. If McCaleb sold his altcoin holdings immediately, it would cause its price to collapse. To avoid this, Ripple entered into an agreement with the co-founder, under which he can sell his coins in limited quantities. The exact terms of the agreement are unknown, but it is likely to expire this year, as reported in February by the Twitter bot Whale Alert in its official blog.

Representatives of the service clarified that McCaleb sold more than 1 billion XRP from 2014 to 2019. As of February, the co-founder of Ripple still had at least 4.7 billion tokens left, Whale Alert stressed.