Ripple Labs co-founder Jed McCaleb announced yesterday that he would be selling all of his shares in Ripple’s internal cryptocurrency, XRP (better known as ripples), which led to share prices tanking overnight. In a forum post on XRP Talk titled “Selling My XRP” McCaleb wrote that he would be selling all of his XRP over the next two weeks. McCaleb wrote: “I plan to start selling all of my remaining XRP beginning in two weeks. Because I have immense respect for the community members and want to be transparent, I’m publicly announcing this before I start. So just fyi…. xrp sales incoming.” McCaleb is a well-known figure in the cryptocurrency community. He formed Mt. Gox, which was once the world’s largest bitcoin exchange, and sold it to Mark Karpeles in 2011 to creat Ripple Labs. Mt. Gox collapsed and declared bankruptcy in late 2013. TechCrunch writes that McCaleb may be working on a “secret project.” Ripple Labs declined to comment. The Ripple platform was created by Ripple Labs and is a decentralized open-source peer-to-peer payment system designed so that users can quickly and efficiently send money internationally. What sets Ripple apart is that its platform accepts any currency, including any […]
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