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The company’s founder bought 265 million XRP, started selling the same day

Stellar co-founder Jed McCaleb purchased Ripple 265 million 300 thousand XRP worth about $ 148 million yesterday and started selling as soon as they bought it, according to chain data.

McCaleb was on RippleHe’s founding team until 2013. McCaleb, the technology director of the project, left the Company and started developing Stellar.

At the same time, Mt. More than 9 billion XRP left when he left the company because he was one of the founders of the company, according to McCaleb, founder of the Gox exchange Ripple. McCaleb and Ripple signed an agreement in 2016 so that McCaleb’s sales do not affect the market price. Under this deal, McCaleb will be able to sell up to a certain percentage of its daily XRP volume. In the first year of the deal, McCaleb managed to bulk sell 0.5 percent of the average daily XRP volume for each day of the week, including weekends and holidays. In the second and third years, this rate rose to 0.75 percent, and in the current fourth year to 1 percent. The fourth year deal is now coming to an end, and the rate that XRP McCaleb can sell in the specified timeframe has increased to 1.5 percent.

Sold 30 million XRP a few hours later
McCaleb bought 266,305,309 XRP in the transaction in the image below in the early hours of yesterday and sold 29,571,546 XRP, approximately 10 percent after hours.

Transactions in McCaleb’s wallet
McCaleb made other sales this month. Public data shows that RippleIt, the company’s co-founder, purchased 113.3 million XRP on December 1. A few days after this transfer, it sold some of it in batches of 10 million XRP.

McCaleb pledged to donate 2 billion out of 9 billion XRP to charities in 2014. Therefore, not all of them are in your pocket.

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