Last month, it was reported that Ripple co-founder Jed McCaleb was about to empty his xrp wallet which contained 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 nearly empty as there are only 47.6912 xrp worth $17 stored in the wallet today. today.
Ripple co-founder Jed McCaleb empties famous “Tacostand” wallet
String data displays the xrp (XRP) wallet called “Tacostand”, is now close to being empty as an owner, Jed McCaleb, apparently transferred its entire reserve 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’s departure he held approximately 9 billion XRP and it was authorized to sell or transfer the funds under specific withdrawal conditions.
I’m almost there 🌮 pic.twitter.com/SdstUD4Kzc
—Jed McCaleb (@JedMccaleb12) June 29, 2022
Jed McCaleb is estimated to be one of the richest cryptocurrency influencers in the space and in 2018 McCaleb was the 40th richest person in the world, according to the Forbes list of billionaires of that year.
When McCaleb neared the end of his XRP hiding place at the end of June with 81 million remaining in the portfolio, it tweeted to be “almost there” with a taco emoji and a photo of a restaurant called “Taco Stand”. At that time, the 81 million XRP tokens were worth $26 million. Following Ripple’s co-founder’s tweet on June 29, the wallet saw a number of big XRP transfers.
That day, McCaleb moved 7,335,966 XRP worth $2.69 million out of the wallet and the next day McCaleb got out 7,335,966 others XRP. The last transaction recorded dates back to July 18, 2022, with 3,898,451 XRP worth $1.42 million was removed from the famous Tacostand wallet.
XRP traded at prices between $0.343 and $0.367 per token on July 18 and it is the seventh largest crypto market cap today. Whereas XRP is up 14.1% over the past month, according to year-to-date statistics XRP is down 37.1% against the US dollar. Statistics show that there is circulation XRP supply of approximately 48,343,101,197, meaning that McCaleb’s 9 billion token reserve was 18.61% of XRP‘s outstanding supply.
What do you think of Ripple co-founder Jed McCaleb emptying his infamous wallet called “Tacostand?” Let us know what you think about this topic in the comments section below.
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