It's old news, but just for your information:
http://www.coindesk.com/ripple-jed-mccaleb-settle-suit-over-1-million-in-disputed-funds/
As part of the settlement, McCaleb has sold his equity in Ripple, and has agreed to sale controls on 5.3bn XRP owned by him and his children. An additional 2bn XRP will be donated to an as-yet-undisclosed charitable fund.
The sale controls are tied to daily volume in XRP markets. For the first year, according to Ripple, McCaleb will be unable to sell more than 0.5% of average daily volume "for each day of the week, including weekends and holidays".
During the second and third years of the agreement, this amount grows to 0.75%, while it accounts for 1.0% in the fourth year. Beyond the fourth year, the amount is set to 1.5%.
The current price of of Ripple is 40 cents. Do I have to count out for you how rich the founder of Stellar is?
http://www.coindesk.com/ripple-jed-mccaleb-settle-suit-over-1-million-in-disputed-funds/
As part of the settlement, McCaleb has sold his equity in Ripple, and has agreed to sale controls on 5.3bn XRP owned by him and his children. An additional 2bn XRP will be donated to an as-yet-undisclosed charitable fund.
The sale controls are tied to daily volume in XRP markets. For the first year, according to Ripple, McCaleb will be unable to sell more than 0.5% of average daily volume "for each day of the week, including weekends and holidays".
During the second and third years of the agreement, this amount grows to 0.75%, while it accounts for 1.0% in the fourth year. Beyond the fourth year, the amount is set to 1.5%.
The current price of of Ripple is 40 cents. Do I have to count out for you how rich the founder of Stellar is?
Does that makes Jed a billionaire?
That makes family Jed multibillionaires atm... not bad
. Let's forget that he probably also gave himself a fair share of Lumens . I dont know who's the big shot in crypto now... Vitalik or Jed. I think it's Jed.
Dude, he's richer than Satoshi.
All this suckers pumping XRP and Jed dumping on them, what a sweet deal, only in bitcoinland...
Hmm, XLM will be better than XRP, because XLM helps poor people in developing countries.
1st, There is only 9.5 billion on the market right now. Ripple has 39billion in circulation, and has a price of 40 cents. So from now until June XLM can rise more then ripple. XLM can go to sixty cents on any big news.
2nd, Jeff McCaleb is competing with ripple. In order to compete and maintain the strategic vision of ripple he will have to lockdown the remaining supply or about 65billion in stellar.
3rd, He will most likely buy back XLM. Why would he do this because it would attract investors from ripple into Stellar increasing the price and Market cap of Stellar possibly beyond ripples. Bringing him to number #2 next to Ripple, and once he does this he's on the cover of Forbes.
4th, It doesn't make sense for anyone to sell XLM to receive Bitcoin and then XLM because what you receive is a very small amount of XLM.
5th If any announcement comes out that hes locking down XLM or buying back XLM this thing goes interstellar. 🚀🚀🚀🚀
He has to make short term adjustments to to ensure the long term vision of the company.
