Ripple's former CTO cashed out 140 million Ripple coins in the past ten days, with a total value of nearly $195 million

XRPscan data shows that Jed McCaleb, the former CTO of Ripple Labs, has sold another 140 million XRP in the past 10 days, with a total value of nearly $195 million. The current balance in Jed's wallet is 453,861,016 XRP. It is estimated that he will sell about 158.2 million XRP per week, so all the XRP held by McCaleb may be sold in August-September this year.

In 2013, McCaleb left Ripple after some conflicts with Chris Larsen, another founder of Ripple, and founded Stellar, a blockchain project competing with Ripple.

Because he helped found the company and served as its first CTO, Ripple signed a settlement agreement with Jed, and Jed could receive 9 billion XRP coins as compensation. But as part of the settlement, he cannot sell 9 billion XRP to the market at once. This is to prevent him from selling XRP frantically and causing XRP to return to zero. Jed McCaleb's "Tacostand" wallet for storing XRP was also activated in 2013. Since then, McCaleb has regularly received XRP sent to the wallet by Ripple. He usually sells a large part of it and it has become a routine operation.

Researcher Leonidas Hadjiloizou said on Twitter that according to data shared by the Bithomp analysis website, McCaleb's sales were smaller than he expected: 22.6 million XRP occurred every day, not more than 40 million. However, as Hadjiloizou expected, about 158.2 million XRP were sold per week, and McCaleb's XRP holdings may be sold in August-September this year.

Jed McCaleb is the founder of the p2p file-sharing software eDonkey Network. In 2010, he co-founded the Mt.Gox exchange, which once occupied 90% of the global Bitcoin market share and was once the world's largest Bitcoin exchange. He is also the founder of Ripple and the blockchain project Stellar.

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