Ripple Co-founder McCaleb Defends Selling His XRP Amid Accusations of Deliberate Harm to Investors

Ripple co-founder Jed McCaleb recently addressed renewed criticism surrounding his departure from Ripple and his decision to sell off his XRP holdings. McCaleb’s statement came after XRP holder Jim Knox accused him of deliberately harming Ripple investors due to personal disagreements. However, McCaleb clarified his stance, stating that he informed the Ripple community about his decision to leave the company and his loss of belief in the project before selling his XRP. According to him, his intention was to allow XRP holders the opportunity to "front-run" him — essentially enabling them to act on the information before he made his sale. McCaleb argued that this was more transparent than selling without prior notice. “I told the Ripple community I was leaving. I did that before I sold my XRP. The alternative was to sell without telling people. Is that better?” McCaleb stated. Further defending his actions, McCaleb pointed out that during his transition out of Ripple, XRP holders were given the chance to swap their tokens for Stellar (XLM). This move sought to reduce their potential losses from the situation. McCaleb used this explanation to address critics who painted his departure as a hostile maneuver against the community. Jim Knox had accused the former Ripple executive of intentionally attempting to harm Ripple investors. Knox suggested that McCaleb's actions were driven by personal frustrations with the team’s decisions rather than a genuine concern. https://twitter.com/JedMcCaleb/status/1903109335687069806 McCaleb's Space Station Ambitions This exchange followed recent reports about McCaleb’s ambitious plans to build a commercial space station with his startup, Vast Space. A Bloomberg article highlighted that McCaleb is risking a significant portion of his crypto fortune to secure a NASA contract to replace the International Space Station (ISS). https://twitter.com/crypto/status/1902829853893668879 Despite the criticisms surrounding his XRP departure, McCaleb’s forward-looking projects in space exploration have captured the interest of some members of the XRP Army. However, some remain wary of his motivations. "That’s not the kind of person you can trust,” Knox remarked in response to an optimistic post about McCaleb's space endeavor. A Glimpse at McCaleb's XRP Sales Saga Notably, Jed McCaleb originally owned 9 billion XRP from 2012, when the XRP Ledger first launched. For context, in 2011, McCaleb, David Schwartz, and Arthur Britto began developing the XRP Ledger to enable faster, scalable transactions. They generated 100 billion XRP upon launch. In September 2012, McCaleb and co-founders Chris Larsen and Britto formed Ripple (originally NewCoin, Inc.). This company received 80 billion XRP as a gift, while the founders retained the remaining 20 billion. After McCaleb's departure from Ripple in June 2013 due to differing visions, he began selling his XRP holdings. Some argue McCaleb intended to aggressively dump his XRP bag, but Ripple checked the move with legal action, enforcing measured sales, including some charitable donations. By July 2022, McCaleb was completely out of XRP.