Co-founder and former technical Director of Ripple jed McCaleb (Jed McCaleb) on Wednesday night received 63,704,590 XRP to his wallet.
According to Whale Alert, the transfer was made from McCaleb’s” corporate ” account, created for him as part of the ripple exit agreement. The current value of the XRP he received exceeds $12 million.
The transfer was made as part of an agreement between Ripple and McCaleb. Previously, such payments were usually immediately available on exchanges and, presumably, exchanged for Fiat currency. In early February, analysts concluded that in this way, McCaleb has already sold more than 1 billion XRP, and at the same time, he still has 4.7 billion XRP left.
The Ripple co-founder himself commented on the analysts ‘ observations as follows:
“I have never hidden anything. The markets have always known that I sell my XRP slowly and constantly. I don’t do this to negatively influence other companies in the industry. I think my investment actions do not affect the market in any way, so I see no reason to change the current practice.”
McCaleb was involved in the development of the Ripple project from the very beginning of its existence, but later decided to leave and start the development of the ripple fork, called Stellar. At the same time, he entered into an agreement with Ripple, under which the company committed to pay his share of XRP gradually, on a regular basis.
The XRP rate is gradually recovering after collapsing to $0.12 in mid-March. Now the coin is worth about 20 cents.