News

Ripple’s Former CTO Dumps 100 Million XRP In June Alone

Published by
Ripple’s Former CTO Dumps 100 Million XRP In June Alone

Co-creator of Ripple network and first Chief Technology Officer, Jed McCaleb will soon exhaust his XRP stash per U.today. He has just 81.5 million XRP off of the original 9 billion XRP stake today on tacostand.

Advertisement

More than 100 million XRP dumped into the market this month by McCaleb

In 2014, McCaleb threatened on XRPtalk.org that he’d soon sell his entire XRP stake, which was equal to 12% of the token’s supply and worth just $45 million at the time. Then came a settlement which restricted him from dumping the entire thing in a short period.

At the start of June, Jed reportedly had as many as 183 million XRP on his wallet balance; this had been reduced to just 114 million tokens by June 25. XRPscan Data shows that McCaleb has just 81.5 million XRP left.

This indicates that he sold about 30 million XRP within a few days and over 100 million since the start of this month. It is apparent that if he continues to go at this pace, he will dump it all very soon.

As at this time last year McCaleb had about 1.1 billion XRP ($700 million at the time). Excluding checkered history, McCaleb remains one of Ripple’s largest holders. This will also bring to an end the journey for XRP enthusiasts who have followed his selling trajectory from 9 billion XRP in 2013.

Advertisement

Ripple’s CEO says the firm will leave the U.S if they lose SEC lawsuit

On June 27, Ripple filed an opposition to SEC’s suggested redactions which include a description of flaws in the expert’s methodology, inconsistency in the SEC’s position, and also statements highlighting the authority’s position.

Ripple is of the belief that SEC’s recommendations aim to avoid public criticism seeing as they intend to suppress the declaration by experts and the reason declared is that it may “inflame the discourse”.

Brad Garlinghouse, CEO of Ripple stated recently that if Ripple ends up losing the suit, the firm would be leaving the U.S for good. The firm also announced the opening of a new office in Canada on Twitter.

Advertisement
Share
Abigal Vee

Abigal .V. is a cryptocurrency writer with over 4-years of writing experience. She focuses on news writing, and is skilled in sourcing hot topics. She’s a fan of cryptocurrencies and NFTs.

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • Altcoin News

XRP News: Key Ripple Whale Indicator Turns Bullish After 4 Months, Price Rally Ahead?

In a major XRP news today, a key whale indicator turns bullish for Ripple's native…

October 30, 2025
  • News

Pi Network Dedicates 350,000 Active Nodes for AI With OpenMind Partnership

In the latest development, the Pi Network Ventures announced its investment in artificial intelligence (AI)…

October 30, 2025
  • News

Breaking: Trump Cuts Tariffs as US-China Reaches 1-Year Trade Deal, Bitcoin Rebounds

US President Donald Trump reduced tariffs on China after a meeting with President Xi Jinping,…

October 30, 2025
  • News

Binance Responds to Charges of Supporting Trump-Family Crypto USD1 and WLFI Soon After CZ Pardon

US lawmakers have started accusing crypto exchange Binance of supporting Trump family projects like World…

October 30, 2025
  • Bitcoin News

SpaceX Makes Third Huge Bitcoin Transfer in 10 Days, Is Elon Musk Planning Something Big?

Elon Musk’s space exploration company, SpaceX, moved another 281 Bitcoin on Thursday, according to blockchain…

October 30, 2025
  • News

Crypto Market Tumbles as Jerome Powell Says December Rate Cut ‘Far From Certain’

The crypto market turned sharply lower on Tuesday after Federal Reserve Chair Jerome Powell said…

October 30, 2025