A JPMorgan Chase customer says she was shocked to see her account abruptly wiped out and placed nearly $50 billion in the negative. Gabe Flores went viral after sharing the story of his friend Maddie, who logged into Chase after a crazy night out and noticed her $76 savings balance had plunged into extremely deep […]
The post $49,999,999,697 Abruptly Exits Chase Bank Account in Massive Withdrawal After Customer Has ‘Crazy Night Out’: Report appeared first on The Daily Hodl.
Bank of America customers are reporting massive issues with online and mobile banking. The site monitoring service Downdetector shows tens of thousands of customers have reported severe service disruptions in the last few hours, with users on the social media platform X stating that their balances have dropped to zero. Downdetector says it’s also witnessing […]
The post Bank of America Confirms Massive Outage and $0.00 Account Balances As JPMorgan Chase, Wells Fargo Customers Report Digital Banking Disruptions appeared first on The Daily Hodl.
Indian crypto exchange Wazirx has decided to reverse all trades made after withdrawals were halted following the recent cyberattack. The exchange announced that this process will take place over the next few days, with all users’ portfolio balances on the platform being restored to their July 18 post-hack levels. Wazirx to Reverse Trades Following Withdrawal […]
The largest marketplace for non-fungible tokens (NFTs), Opensea, has announced major changes to its fee structure and policies in response to a shift in the NFT ecosystem. The company detailed that it will drop fees to zero for a limited time and offer an optional creator earnings model with a minimum of 0.5% for all […]
The crypto world was jolted last week when the Securities and Exchange Commission (SEC) shut down Kraken’s staking program, much to the satisfaction of Chairman Gary Gensler and his team. But what does this mean for the future of cryptocurrency and, more specifically, staking? The following opinion editorial was written by Bitcoin.com’s Business Development Manager […]
The largest crypto-asset exchange by global trade volume, Binance, announced that its custody business has launched an off-exchange settlement solution for institutional clients. With this solution, institutions can lock a specified amount of crypto with a qualified cold storage wallet, and assets will be mirrored on their Binance exchange account with a 1:1 balance. Binance […]
Jed McCaleb, the former co-founder and CTO of Ripple Labs has mere weeks left until his XRP balance reaches zero.
Former Ripple Labs founder Jed McCaleb is nearing the end of his eight-year XRP dump marathon, with only 81.53 million XRP (worth $26.55 million), remaining in his wallet’s balance.
According to Jed Balance, a website tracking his XRP holdings, McCaleb’s wallet name “tacostand” has been shedding an average of 4.06 million XRP over the last month but has ramped up daily transfers to 7.34 million XRP (worth $2.39 million), since Sunday, June 26.
At the current rate of selling his wallet may be depleted within the next two to three weeks to the delight of the crypto community.
On Wednesday, Mason Versluis, a tik tok influencer and youtuber known as Crypto Mason shared the news to his 115,000 followers on Twitter, highlighting that 22 million of XRP has been released in the past three days.
Jed McCaleb has 81,527,488 $XRP remaining!
— MASON VERSLUIS (@MasonVersluis) June 29, 2022
22,007,874 $XRP has been released in the past 3 days. pic.twitter.com/tqjvOIGj68
On Wednesday, a parody account of McCaleb with 4,500 followers who describes themselves as “Definitely not the real Jed” posted a photo in front of an eatery called “The Taco Stand”, saying “Almost there.”
Almost there pic.twitter.com/SdstUD4Kzc
— Jed McCaleb (@JedMccaleb12) June 29, 2022
The former Ripple executive has been methodically selling off chunks of his once nine-billion-strong XRP holdings since he left the company in 2014.
McCaleb was part of the founding team of Ripple in 2012 (called OpenCoin then), receiving a share of 20 billion XRP which was distributed to all three founders, which also include Chris Larsen and Arthur Britto.
McCaleb left in 2014 after a reported fallout with Ripple executives, taking with him his entire XRP share which equated to around 9% of the total supply. Later that year, he co-founded rival payment protocol Stellar (XLM).
Fearing a market crash should McCaleb offload his entire holdings at once, Ripple Labs and the former executive agreed to lock-up terms for his XRP.
The lock-up plan dictated that for the first year, he could not sell more than $10,000 worth of XRP per week. The plan would loosen up over time, raising the amount he could offload to $20,000 worth of XRP per week for the three years following.
From 2018-2019, the restrictions would apply to the number of XRP tokens instead, limiting his maximum allowed offloading to 1 billion XRP per year.
From 2020 and beyond, the amount was further raised to 2 billion XRP per year.
According to Jed Balance, McCaleb offloaded a large portion of his XRP holdings between January to August 2021, a period when XRP prices spiked up to $1.84 in April, offloading 2.74 billion of XRP.
He took several months' break from selling from September 2021 to the start of January 2022 and has been steadily offloading XRP again since then.
The data shows that McCaleb has shed 627.6 million XRP so far in 2022.
Related: Price analysis 6/29: BTC, ETH, BNB, XRP, ADA, SOL, DOGE, DOT, SHIB, LEO
XRP’s price rebounded nearly 30% on June 24, four days after rebounding from $0.28, its lowest level since January 2021. Analysis from Cointelegraph noted that the token’s retracement rally could extend to $0.41 next.
The Luna Foundation Guard (LFG) purchased an additional 123.89 bitcoin on Friday worth close to $5 million at the time of settlement. Since mid-March, Terra’s LFG has been acquiring bitcoin on a regular basis and after the purchase on Friday morning, the non-profit organization has approximately 42,530.827 bitcoin. LFG Acquires Another Batch of Bitcoins for […]
On April 13, Terra’s Luna Foundation Guard (LFG) acquired 2,508.94 bitcoin worth close to $100 million at the time of settlement. The purchase follows the 4,130 bitcoin LFG scooped up three days ago, and LFG’s wallet is now just over 495 bitcoin away from surpassing Tesla’s bitcoin treasury stash. Luna Foundation Adds More Bitcoin to […]
On Sunday, April 10, 2022, the Terra (LUNA) project and Luna Foundation Gaurd (LFG) acquired 4,130 bitcoin worth $176.1 million at the time of settlement. Using today’s bitcoin exchange rates, LFG now has a total of 39,897.98 bitcoin worth $1.7 billion. Luna Foundation Gaurd Obtains $176 Million in Bitcoin for the UST Decentralized Forex Reserve […]