Ripple sends 627,974,493 XRP to Jed McCaleb after Chris Larsen received 41 million from Binance

Yuri Molchan

The Ripple fintech giant has sent another huge amount of XRP to its co-founder, and Binance has sent over 41 million XRP tokens to its former CEO, Chris Larsen

Cryptocurrency tracking bot Whale Alert has announced that Jed McCaleb, who helped create today’s Ripple and was the company’s first chief technology officer, received another chunk of XRP from Ripple Labs about 10 hours ago.

The company sent him another high-profile XRP sum of 627,974,493 coins (a whopping 277,683,138 in Fiat USD).

Meanwhile, several other large XRP chunks have been moved with the participation of Ripple’s Chris Larsen and the major crypto exchanges Binance and Bitstamp.

Jed McCaleb received $ 277.7 million in XRP

According to Whale Alert, Ripple has transferred 627,974,493 XRP to the man without whom the company would never have been founded: Jed McCaleb, its first CTO.

Since leaving Ripple a year after it was founded in 2013, he’s gotten healthy chunks of XRP and founded rival Stellar, which also seeks cross-border payments through financial institutions.

He has received payments under the settlement agreement he signed with Ripple. To prevent Jed from bringing billions of XRP to market, he put it in lumps, which the agreement also forced to sell it in small chunks.

According to the XRPscan platform, McCaleb released 13,169,006 XRP from its “Tacostand” address today to be sold. The current balance of the wallet is 645,305,649.04558 XRP.

As U.Today reported four days ago, McCaleb sold 135.8 million XRP coins over the course of a week.

Image via Twitter

Binance and Bitstamp transfer 191 million XRP

Data released by Whale Alert also says that the largest trading volume crypto exchange, Binance, has sent 41 million XRP to former Ripple CEO and second co-founder, Chris Larsen.

There are no comments from Whale Alert on this transaction. In the past, however, Ripple would sell large quantities of XRP to Binance from time to time– –as well as to other exchanges– –to support XRP liquidity.

Binance sometimes sends XRP back to Ripple– –supposedly “superfluous” coins.

Meanwhile, another major global exchange, Bitstamp, and Ripple’s Europe-based ODL platform have transferred a staggering 150 million XRP between their wallets.

Ripple locks back 500 million XRP

The fintech giant unlocks one billion XRP coins from the escrow account on the first day of each month for sale on exchanges, its partners, etc. After that, around 200 million XRP are usually stored again in an escrow account.

This time, the company put aside half of the amount released, 500 million coins.

At press time, XRP ranks seventh according to CoinMarketCap, changing hands at $ 0.4428.