Ripples co-creator, Jed McCaleb, recently addressed his XRP transactions on X, declaring that he notified the public about his exit because he lost confidence in the venture. He stressed that his aim was to alert individuals, implying that trading without warning would have been more detrimental. McCaleb further noted that he never touted XRP as a venture, which explains why the SEC didn’t target him. BlackRock and Fidelity to Join XRP ETF Race
McCaleb rejected assertions that he attempted to injure stakeholders due to discontent with Ripples choices.
In 2014, McCaleb struck a deal with Ripple to steadily trade his tokens, initially capped at $10,000 weekly. Ripple later took legal action against McCaleb for breaching the 2014 arrangement by surpassing the contract thresholds. Following a resolution, a fresh agreement was made in 2016, connecting McCaleb’s transactions to XRP’s trading volume. As a co-founder, McCaleb obtained 9 billion XRP in 2012 but departed Ripple in 2013 to co-establish Stellar due to divergent perspectives.
McCaleb ultimately traded all his XRP in 2022.
Ripple CTO David Schwartz previously alleged that McCaleb tried to offload all his XRP instantly, but the firm averted it through judicial proceedings. Schwartz jested that McCaleb might be the sole individual to become a self-made billionaire despite his greatest endeavors to evade it.
McCaleb, who also launched the notorious Mt. Gox exchange, has amassed an incredible $3 billion.
Rumor has it, a cryptocurrency bigwig cashed out his Ripple assets and corporate equities, accumulating a hefty $2 billion. Currently, Bloomberg suggests he’s channeling that crypto wealth into backing the construction of the initial commercial spaceport, propelling him anew into prominence. Apparently, he’s targeting the stars, in a tangible and metaphorical sense! Could a $100 Stake in Mutuum Finance (MUTM) Become $5,000 Similar to Cardano (ADA) in 2017 or Dogecoin (DOGE) in 2021? – TheCryptoUpdates
