As McCaleb left Ripple, he set the number of Ripples he could sell every week. Assuming that it sells about 13 million units per day, it means that McCaleb is selling 364 million units per month. Ripple’s developer, Ripple Labs, usually disposes of around 200 million XRP per month and uses it for operating funds. Assuming that McCaleb and Reflaps are being sold at the same time, the monthly fixed sale is about 564 million XRP.
◆ Jed McCallab turns 1.2 billion XRP into cash last year
On the 6th (local time), Cointelegraph, a media specialized in cryptocurrency, reported that Ripple co-founder and former CTO Jed McCaleb sold 1.2 billion XRP to cash in the past year. The cash value is estimated to reach $400 million.
According to Weil Allert, he cashed out $411 million worth of Ripple last year. This amount is equivalent to 27% of all Ripple coins held by McCaleb in agreement with Ripple Labs. It is reported that he sold about 1 billion XRP from 2014 to 2019.
When McCaleb left Reflaps in 2014, it was controversial when he requested 9.5 billion XRP as compensation. The total amount of compensation he actually decided to receive is unknown. He signed a contract with Reflaps to limit the amount of XRP he can sell per week. His contract with Reflaps ends in 2023.
On January 1 of last year, McCaleb also received 475 million XRP from Reflaps.
◆ Reflaps transfers 1 billion XRP every month from 2017.. 200 million pieces are converted into cash
Ripple Labs transfers about 1 billion XRP to its own wallet on the first day of every month since 2017. Of these, 800 million are locked up again, and 200 million are converted into cash and used as operating expenses. On January 1st, it transferred 900 million XRP. According to the Ripple website, as of December 13, last year, 44.5 billion XRP was released to the market. 48.2 billion are locked up, and Reflap has about 6.3 billion.
Former Ripple CEO Chris Larsen also showed that he transferred 68 million XRP to two personal wallets four times. He is receiving a certain amount whenever Ripple transfers Ripple on the first day of every month, but the scale is not disclosed.
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