Skip to main content

Jed McCaleb’s ‘Tacostand’ XRP Wallet Is Near Empty, After the Ripple Co-Founder Transferred 9 Billion XRP Over the Years

Jed McCaleb's 'Tacostand' XRP Wallet Is Near Empty, After the Ripple Co-Founder Transferred 9 Billion XRP Over the Years

Last month, it was reported that the co-founder of Ripple, Jed McCaleb was close to emptying his xrp wallet that held 81 million tokens worth $26 million. Following a transaction that saw 3,898,451 xrp transferred out of the address, McCaleb’s wallet is now close to being empty as there’s only 47.6912 xrp worth $17 stored in the wallet today.

Ripple Co-Founder Jed McCaleb Empties the Notorious ‘Tacostand’ Wallet

Onchain data shows the xrp (XRP) wallet called “Tacostand,” is now close to being empty as the owner, Jed McCaleb, has seemingly transferred his entire stash out of the wallet. McCaleb is well known in the crypto industry for co-founding Ripple and in 2014 he left the company to start the project Stellar in 2014.

However, it was well known that after McCaleb left he held roughly 9 billion XRP and he was allowed to sell or transfer the funds under specific withdrawal conditions.

It is estimated that Jed McCaleb is one of the richest cryptocurrency influencers in the space and in 2018, McCaleb was the 40th wealthiest individual in the world, according to that year’s Forbes billionaires list.

When McCaleb was nearing the end of his XRP stash at the end of June with 81 million left in the wallet, he tweeted about being “almost there” with a taco emoji and a photo of a restaurant called the “Taco Stand.” At that time, the 81 million XRP tokens were worth $26 million. Following the Ripple co-founder’s tweet on June 29, the wallet saw a number of large XRP transfers.

On that day, McCaleb moved 7,335,966 XRP worth $2.69 million out of the wallet and the following day, McCaleb took out another 7,335,966 XRP. The last transaction recorded was on July 18, 2022, as 3,898,451 XRP worth $1.42 million was removed from the notorious Tacostand wallet.

XRP has been trading for prices between $0.343 to $0.367 per token on July 18 and it is the seventh largest crypto market cap today. While XRP is up 14.1% during the past month, year-to-date metrics show XRP is down 37.1% against the U.S. dollar. Statistics show there’s a circulating XRP supply of around 48,343,101,197, which means McCaleb’s stash of 9 billion tokens represented 18.61% of XRP’s circulating supply.

What do you think about the Ripple co-founder Jed McCaleb draining his infamous wallet called ‘Tacostand?’ Let us know what you think about this subject in the comments section below.



from Bitcoin News https://ift.tt/zmpyv4Z
Labels:

Comments

Post a Comment

Popular posts from this blog

Mt Gox Creditors Updated, Trustee Says Rehabilitation Custodian Is ‘Currently Preparing to Make Repayments’

On August 31, 2022, the Mt Gox trustee Nobuaki Kobayashi explained in a recent letter that the rehabilitation custodian is “currently preparing to make repayments” to Mt Gox creditors. Trustee Updates Mt Gox Creditors — Repayment Date and Exchange Still Unknown Last week speculation and rumors concerning the release of 140K bitcoin ( BTC ) from Mt Gox littered social media platforms and headlines. Bitcoin.com News covered the situation six days ago as a number of people and Mt Gox creditors called the rumors “ fake news .” During that same period of time, a bitcoin whale transferred 10,000 BTC to unknown wallets, and a 2018 annotation , heuristics, and clustering methods show the funds likely originated from the June 2011 Mt Gox hacks. Following the mysterious whale transfer, last Wednesday, Mt Gox published an official update from the court trustee Nobuaki Kobayashi that explains the court is “currently preparing to make repayments” to creditors. Mt Gox creditors have been wait...
Post a Comment
Read more

Economists Discuss Russia, China Potentially Developing Gold-Backed Currency That Could Undermine US Dollar

Economists have weighed in on reports that China and Russia may be developing a new gold-backed currency that could undermine the U.S. dollar’s status as the world’s primary reserve currency. Russia and China May Be Developing Gold-Backed Currency Several experts have shared their views on Russia and China potentially creating a new gold-baked currency, Fox Business reported Saturday, emphasizing that China has been buying up huge quantities of gold while Russia was forced off the U.S. dollar due to sanctions imposed on the country following its invasion of Ukraine. The news outlet noted that some experts have cautioned that these moves, along with the closer relationship that has developed between Moscow and Beijing, point to the likelihood of China attempting to launch a gold-backed currency. However, neither Russia nor China has officially confirmed plans for such a currency. Craig Singleton, senior fellow at the Foundation for Defense of Democracies and a former U.S. diplomat,...
Post a Comment
Read more

Fidelity Discusses Bitcoin as Portfolio Insurance — Could Soon Stand in ‘Stark Contrast’ to Path Fiat Currencies Take

Fidelity Digital Assets, a subsidiary of Fidelity Investments, says that bitcoin could be considered portfolio insurance. The firm notes that the cryptocurrency “may soon stand in stark contrast to the path that the rest of the world and fiat currencies may take — namely the path of increased supply, additional currency creation, and central bank balance sheet expansion.” Fidelity Says Bitcoin Could Be Portfolio Insurance Fidelity Digital Assets, a subsidiary of Fidelity Investments, recently published a research study titled “The Rising Dollar and Bitcoin.” The research outlines “how bitcoin could be considered portfolio insurance” as the rising dollar impacts global currency markets. “The strengthening U.S. dollar is wreaking havoc among other countries and may put pressure on the Federal Reserve to soon reverse its tightening monetary actions, something that has precedent based on 1985’s Plaza Accord,” Fidelity explained. In addition, “more monetary debasement may be needed to ...
Post a Comment
Read more