Over the last week, former CTO and co-founder of Ripple Labs, Jed McCaleb, has traded away 140 million XRP from his so-called “tacostand” wallet worth roughly $69.3 million.
According to news outlet XRPscan, McCaleb sold around 38 million XRP tokens in three portions of 12.7 million between February 4-6. Another two batches of 19 million XRP each followed within the next two days.
Three more trades took place this week, again for 19M XRP each.
Even though these sales were quite substantial, they had little to no effect on the rate of the Ripple token. Especially considering that XRP has grown by 4% in the last 24 hours before writing this article, and by 34% in the previous week.
Jed McCaleb functioned as CTO at Ripple until 2013, after quitting the organization, he obtained reimbursement for over 9 billion XRP.
At present, his wallet contains 481.7 million XRP worth about $248.9 million.
