In brief
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 266,305,309 #XRP (148,031,671 USD) transferred from Jed McCaleb Settlement to Jed McCaleb wallet
— Whale Alert (@whale_alert) December 9, 2020

$113,075.00
-0.66%$4,283.64
-0.49%$2.87
-2.09%$850.46
-1.24%$183.35
-2.14%$0.99971
-0.01%$4,274.79
-0.46%$0.35652
0.36%$0.217835
-2.52%$0.855778
-2.36%$24.72
-3.83%$5,169.28
-0.50%$112,890.00
-0.86%$41.91
-1.09%$4,604.49
-0.60%$0.391996
-2.37%$3.42
-2.94%$1.001
-0.04%$4,593.64
-0.38%$559.95
-0.07%$0.235892
-1.23%$22.96
-1.85%$4,289.64
-0.40%$9.64
0.26%$116.16
0.20%$3.30
0.89%$0.999688
0.02%$0.0000124
-1.54%$0.99911
-0.09%$10.32
-1.97%$42.97
-0.49%$3.81
-1.76%$113,097.00
-0.64%$1.19
0.04%$4.70
1.71%$244.68
24.76%$265.52
-0.31%$0.144026
0.14%$301.67
0.43%$0.00001041
-2.47%$0.64901
0.35%$1.24
-2.38%$339.06
-2.60%$21.06
-1.98%$2.45
-3.37%$4.41
-0.90%$0.922681
-1.86%$0.364254
0.21%$224.42
-2.21%$5.10
-2.87%$0.498241
-2.36%$4,280.11
-0.60%$0.998967
-0.05%$1.00
0.00%$0.088095
1.81%$18.60
3.15%$0.235953
-2.21%$0.246187
-3.11%$4.43
-1.35%$0.02364173
-1.73%$4,871.96
-0.12%$4.53
-0.30%$0.03106112
-3.31%$195.74
-2.19%$1.064
0.01%$5.18
-0.95%$3.55
-2.80%$4,494.36
-0.50%$0.931176
-2.45%$0.291484
-3.75%$0.664919
-1.44%$5.68
-2.70%$0.998672
-0.03%$8.44
-4.58%$0.00002138
-3.12%$0.02280748
-1.90%$2.40
-1.77%$4,504.18
0.08%$12.46
0.17%$4,624.04
-0.36%$106.63
-0.51%$112,991.00
-0.93%$0.48968
-2.42%$0.083303
1.11%$0.999555
-0.02%$0.068173
-1.01%$0.998465
-0.13%$0.999676
-0.01%$42.00
-1.02%$0.999099
-0.02%$13.36
-3.35%$0.02699398
3.12%$4,524.62
-0.34%$1.29
1.60%$4,595.96
0.03%$1.66
-2.97%$0.714799
-1.60%$3,330.79
-0.30%$0.997298
0.05%$0.999833
0.02%$1.37
0.29%$0.86382
-1.36%$1.28
-3.41%$112,900.00
-0.66%$0.65446
-2.73%$1.28
0.58%$850.25
-1.28%$207.56
-2.15%$0.998867
-0.12%$0.320158
-0.27%$0.532882
-3.74%$0.384845
1.03%$0.00280664
-7.43%$0.00009931
-3.38%$4,286.74
-0.41%$1.12
0.01%$0.089852
-2.43%$3,324.76
-0.27%$113,132.00
-0.65%$5.54
2.38%$2.63
-2.65%$0.172914
-5.06%$0.883809
-2.84%$112,346.00
-1.22%$3.24
-3.12%$241.67
-2.09%$0.145114
-2.24%$0.84261
-3.55%$0.796236
-3.86%$4,123.24
-2.11%$24.51
-2.35%$4,287.10
-0.42%$4,270.02
-0.46%$2.39
2.59%$1.19
-3.57%$0.778441
-1.72%$0.488707
-2.80%$0.192568
-2.99%$0.45228
3.83%$0.01619768
-2.97%$0.01513609
-3.43%$112.27
0.01%$0.997253
-0.04%$41.84
9.72%$1.077
-0.28%$0.276546
-2.42%$112,662.00
-1.00%$4,289.83
-0.42%$0.116284
-3.72%$0.999734
-0.01%$0.00902214
-5.88%$4,553.68
-0.39%$1.76
1.08%$0.00000066
-0.88%$4,592.84
0.09%$4,719.62
-0.44%$0.370693
-2.52%$0.180072
-2.46%$0.997869
-0.02%$4,703.20
-0.34%$0.402577
-7.13%$0.217832
-2.58%$113,038.00
-0.71%$0.552824
-0.80%$0.276877
-2.68%$0.999585
-0.01%$25.64
-2.91%$1.085
-1.78%$0.070546
-0.84%$0.997376
0.02%$4,260.86
-0.46%$0.63304
-3.17%$0.127746
-7.02%$0.04936299
-4.49%$2.60
-2.14%$111,714.00
-0.68%$0.477408
-1.65%$4,285.54
-0.41%$0.00802366
-3.49%$0.999788
0.01%$0.589116
-3.27%$6.60
-1.04%$0.02401657
0.66%$0.00000046
-0.68%$0.407771
-0.85%$0.00490376
-0.32%$1.28
-1.94%$1.092
-8.19%$6.66
-2.57%$0.060747
-3.68%$6.69
-3.31%$0.999803
-0.01%$1.16
0.02%$10.79
0.01%$0.999976
0.35%$1.33
-0.29%$0.361561
-4.43%$0.01230808
-3.92%$44.82
-2.75%$14.71
-3.43%$1.097
0.00%$1.016
1.28%$0.999708
-0.01%$7.06
-2.83%$0.371461
-0.52%$5.05
-0.07%$0.00000103
-2.56%$0.00001976
-1.85%$0.62987
-4.32%$5,186.53
-0.59%$0.03945304
-2.75%$201.94
-2.03%$22.95
-1.90%$28.07
-1.65%$0.00443557
-4.41%$41.83
-1.34%$0.00738199
-2.96%$2.27
-2.60%$0.82907
1.63%$0.03291768
-3.25%$112,966.00
-0.84%$0.18798
25.81%$22.57
0.27%$0.532132
0.53%$0.078175
-2.29%$0.147357
-6.31%$0.00000086
-7.28%$0.998624
-0.03%$0.00463732
-1.26%$0.247592
-3.90%$113,028.00
-0.96%$0.12707
-1.81%$129.91
-0.84%$4,292.77
0.14%$0.160004
-1.67%$4,814.21
-0.08%$4,493.39
-0.47%$0.03377195
-1.79%$1.097
-0.00%$4.01
-0.21%$0.488323
-2.73%$0.00005913
-1.49%$1.17
-3.43%$1.20
-0.51%$113,074.00
-0.64%$0.50454
-4.87%$0.762226
0.21%$0.00000255
-6.42%Reading
Role
Cofounder of Stellar Development Foundation
Location
San Francisco Bay Area
Current Project
Stellar Development Foundation,Machine Intelligence Research Institute
Previous Projects
ripple.com,Code Collective,MetaMachine
Stellar co-founder Jed McCaleb is taking advantage of high XRP prices while he still can. The former Ripple CTO received over 266 million XRP earlier this week and immediately proceeded to sell the tokens, on-chain data shows.
🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 🚨 266,305,309 #XRP (148,031,671 USD) transferred from Jed McCaleb Settlement to Jed McCaleb wallet
— Whale Alert (@whale_alert) December 9, 2020
McCaleb was part of Ripple’s founding team until 2013, trying to build a crypto payments network to rival Bitcoin’s. He left the firm in 2014 to develop Stellar.
But the break up came with generous alimony. McCaleb was awarded over 9 billion XRP for his role in founding OpenCoin (which later rebranded to Ripple) on a fixed schedule with no strings attached—except for not dumping the 9 billion tokens in one go—meaning he was free to sell, store, trade, or donate his XRP with no consequences or prior permission.
And sell he did. McCaleb announced his intentions to sell his XRP on XRP Talk, a Ripple community forum, back in 2014 and has yet to put the brakes on his sales.
The latest of those came in earlier today, as the image below shows. McCaleb received 266, 305, 309 XRP this morning, and dumped more than 10% of that stash eight hours later.
The amount he received was worth a staggering $148 million, as per analytics site CoinGecko, with McCaleb banking $16.2 million on his sale (considering an average price of $0.56). XRP itself fell -6.2% in the hours after and now currently trades at $0.54.
He has also made other sales this month. On-chain data shows McCaleb’s public wallets received 113.3 million XRP on December 1, with McCaleb sending (and selling) the funds out in batches of approximately 10 million XRP in the days after.
At press time, his so-called “~tacostand” wallet holds over 251 million XRP ($138 million at current prices), or about 0.5% of the token’s entire circulating supply.
In a report published today, market analysis firm Glassnode chided Uniswap for not being more transparent about elements of its token protocol and suggested it may be deviating from its promise to vest tokens set aside for the Uniswap team and investors. When Uniswap, the decentralized exchange for Ethereum-based ERC20 tokens, unveiled its UNI governance token on September 16, it said tokens distributed to team members and investors would vest over four years. But those tokens currently appear t...
But McCaleb isn’t the only en masse XRP seller. Ripple, which has backed off from its ties to XRP in the past few years, also holds about 50 billion XRP in an escrow wallet and regularly sells the token to fund its own operations (although they have recently started to buy XRP to support its price as well).
This has, understandably, created massive controversy and criticism for the company among crypto circles, but it has still not stopped XRP from maintaining its position as the world’s third-largest cryptocurrency by market cap.
However, McCaleb did pledge to donate the proceeds of selling 2 billion XRP to charitable causes in 2014, so not all the money is flowing into his pockets.
XRP whale selling has been picking up, amounting to roughly $470 million in the past 10 days, according to an analyst earlier this week. But there’s no reason to panic because trading volume has been sustained, another analyst noted. “Historically, such heavy selling can pressure short-term prices, but it’s also worth noting that volumes have not collapsed,” Unity Wallet CEO James Toledo told Decrypt. “Overall sentiment appears to be very bullish, which is why I am surprised at the large offload...
MetaMask officially unveiled its native stablecoin Wednesday, the first of its kind launched by a self-custodial wallet. The token, dubbed mUSD, will be fully integrated with the MetaMask DeFi ecosystem, and will allow users of the dominant Ethereum wallet to easily on- and off-ramp self-custodied cryptocurrencies into dollar-pegged tokens. The stablecoin will be issued by Bridge, a Stripe company, and one-to-one backed by dollar equivalent assets in compliance with the recently passed GENIUS...
Bitcoin and Ethereum dipped briefly before regaining momentum in the hour after the Federal Reserve released minutes from its July monetary policy meeting, showing that the two dissenting governors on the Federal Open Markets Committee (FOMC), couldn't convince others to join them. "A couple of members preferred to lower the target range for the federal funds rate by 25 basis points at this meeting," the minutes revealed. "These members judged that, excluding tariff effects, inflation was runnin...