According to reports, Jed McCaleb, cofounder of Ripple was on the verge of emptying his Ripple wallet, which held $26 million worth 81 million tokens. 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 has a long history in crypto because he co-founded Ripple. He left that company in 2014 to launch Stellar.
McCaleb had approximately 9 billionXRP after his departure. McCaleb was then allowed to withdraw or transfer these funds.
It’s almost there? pic.twitter.com/SdstUD4Kzc
— Jed McCaleb (@JedMccaleb12) June 29, 2022
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.
McCaleb, who had 81 million XRP in his wallet at the beginning of June, was approaching the end. 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.
McCaleb made 7,335,966XRP worth $2.69million out of his wallet on that day. McCaleb also took out an additional 7,335,966XRP day later. On July 18th, 2022, 3,898,451XRP valued at $1.42million was taken from Tacostand’s wallet.
On July 18, XRP traded at $0.343- $0.367 per token. It is currently the seventh most valuable crypto market capital. Although XRP has increased 14.1% in the last month, year to date metrics indicate that XRP has fallen 37.1% against U.S. dollars. 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.
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