Ripple update: All the people that own a bunch (billions) of XRP
Chris Larsen owns ~ 5 billion XRP.
Jeb McCaleb owns ~ 5 billion XRP in a custody account that Ripple metes out to him on a monthly basis. In addition to this he donated 2 billion XRP to an advisor fund. Not sure what that last part means or how it has been utilized (actively traded) or not utilized (e.g. just hodling).
The last person I know of that owns a substantial amount of XRP is CEO Brad Garlinghouse, although the amount is murky.
So at best we have 12 billion of XRP + whatever Mr. Garlinghouse owns.
Is this amount of XRP the amount in circulation of ~40 billion? If so that’s kinda nuts. 32% + whatever Brad owns.
I honestly am starting to feel that this is where all the hate of the XRP comes from, I think they need to address and alleviate these concerns because people have a point when saying the digital asset is potentially swayed waaaaay too much by the above individuals.
Jeb McCaleb had beef with XRP and look what came of it?
What’s happens if Chris or Brad sells all his XRP? Can they if they want to?
About Ripple (XRP)
Ripple connects banks, payment providers and digital asset exchanges via RippleNet to provide one frictionless experience to send money globally. Banks and payment providers can use the digital asset XRP to further reduce their costs and access new markets. XRP is the fastest and most scalable digital asset today.
Author: DeeboTheWise
Score: 6
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