The four primary XRP addresses linked to Ripple co-founder Jed McCaleb now contain 4.42 billion XRP.
McCaleb was the chief technical officer of the global startup of payments before departing in 2013 and launching the open source money platform Stellar the following year. While he still owns a large personal wealth of XRP, Ripple’s proprietary cryptocurrency, he can only sell limited amounts under the terms of a legal settlement with Ripple.
In early 2016, Monica Long, Ripple’s senior vice president of marketing, announced an amended settlement between the two parties, which McCaleb touted as a victory.
For the first year of the agreement, McCaleb jointly was able to sell 0.5% of the average daily volume of XRP for each day of the week, including weekends and holidays. In the second and third years, he was able to sell 0.75%, and in the current fourth year he now sells up to 1%.
After year four of the deal, McCaleb can sell as much as 1.5% of the average daily volume.
Since the agreement, Ripple routinely transfers XRP from a business portfolio to McCaleb every month.
🚨 55,079,321 #XRP (11,865,434 USD) transferred from Jed McCaleb Settlement to Jed McCaleb wallet
– Whale Alert (@whale_alert) May 1, 2020
Under the agreement, the former Ripple executive also allocates up to 2 billion XRP to the charity of his choice.