xrp-usd
Olumide Adesina•Friday, March 21, 2025•1 min read
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MARKETS TREND
Jed McCaleb, a co-founder of Ripple and Stellar, denied attempting to hurt investors because he was angry about Ripple’s strategy. He informed the crypto community that he was quitting the company because he no longer supported the project.
According to McCaleb, he intended to allow others to front-run him. “People were supposed to front-run me. The other option was to sell without informing anyone. Is that preferable?”
Additionally, the crypto tycoon claimed that the SEC did not target him because he never promoted XRP as an investment.
McCaleb received 9 billion XRPs in 2012 as one of the company’s co-founders and recently returned to the public eye after Bloomberg revealed that his wealth is now being used to finance the construction of the first commercial space station.
He left the company in 2013 and co-founded Stellar, a rival project since his vision did not coincide with Ripple.
McCaleb and Ripple agreed in 2014 to gradually sell his XRP tokens. Then, Ripple filed a lawsuit against McCaleb, claiming that he had gone beyond the bounds of the 2014 agreement. They came to a new agreement in 2016 after waving the white flag. The deal linked McCaleb’s sales to the volume of XRP trades.
Olumide Adesina
Financial Market Writer
Olumide Adesina is a French-born Nigerian financial writer. He tracks, analyzes, and reports changes in financial markets with over 15 years of working experience in investment trading.
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