XRP Is Delisted Yet Jed McCaleb Sold $2 Billion Worth In 2021November 22, 2021 5:55 pm
Is there a double standard in crypto?
Some are alleging that this is without a doubt the case, and they point to Jed McCaleb as the reason why…
XRP was delisted on most exchanges, and Americans in particular are hard pressed to find XRP, unless of course they use certain wallets, but easy access via Binance or Coinbase is simply not an option.
The lawsuit has no doubt wreaked havoc on XRP’s availability, liquidity, attractiveness as an investment, and price, but not for Jed McCaleb.
McCaleb recently sold roughly $2 billion worth of XRP in 2021, leaving many to wonder what the purpose of The SEC lawsuit against Ripple is:
— 𝗕𝗮𝗻𝗸XRP (@BankXRP) November 18, 2021
I'd like to blow the whistle on Jed McCaleb for dumping millions upon millions of an "unregistered security" from his taco stand wallet upon the market the SEC left alone for 8+ years before telling anyone xrp was a security.
— RACER XRP🎋ⓧⓋ (@RACE2DAMOON) November 22, 2021
Finance Feeds writes:
The financial watchdog had XRP delisted from cryptocurrency exchanges in the United States since December 2020, a move that angered many market participants and industry executives, and understandably so as no exchange wants to upset a regulator that is so easily triggered into enforcement actions in the crypto space.
However, Jed McCaleb, the former co-founder and CTO of Ripple, has been selling XRP all along since the lawsuit was filed. This fact has been revealed every so often by the media and the XRP community to no avail. The SEC has remained silent and doesn’t seem to be bothered by what it has claimed to be unregistered securities sales.
Jed McCaleb has sold $2,147 billion worth of XRP in 2021 so far, which is 80% of all his XRP sales since 2016.
— JamesRuleXRP💫HODL💫DYOR💫I Told You So🚀👊😎 (@RuleXRP) November 18, 2021
The SEC claims all XRP – even XRP traded in the secondary market – are securities. It claims @bgarlinghouse @chrislarsensf enriched themselves and seeks $1.3B. Yet, Ripple co-founder @JedMcCaleb has sold more than $2B since the lawsuit was filed. pic.twitter.com/SnLB6vuLpk
— John E Deaton (@JohnEDeaton1) November 16, 2021
The Motley Fool asks: could XRP soon be re-listed on Coinbase?
It’s clear that this is not how SEC Chair Gary Gensler wants or expected this high-profile case to play out. One of the worst-kept secrets in Washington, D.C. is that he’s jockeying to join the White House cabinet as the next secretary of the treasury — a role he’s reportedly had his eye on since he served in that agency under the Obama administration.
The optics would be bad if a Gensler-run SEC lost its “slam-dunk case” to a feisty crypto startup. It’s not impossible to think that the SEC could seek a face-saving settlement with Ripple so its chair has a better chance at the cabinet post. A settlement would also pave the way for XRP to be resurrected on crypto exchanges such as Coinbase.
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