Jed McCaleb Defends His Early Actions as XRP and the XRP Ledger (XRPL) co-founder

Different reactions have trailed the initiative since his space station plan report came to the limelight.

Stellar founder Jed McCaleb has defended some of his early actions as XRP and the XRP Ledger (XRPL) co-founder.

Different reactions have trailed the initiative since a report by Bloomberg highlighted McCaleb’s plan to build a space station. While some have hailed the ambitious plans, others have been spotlighting his treatment of the XRP community as a red flag in his future endeavors.

Jed McCaleb and Controversial Crypto Leanings

The conversation started with an X user, Cryptoinsightuk, commenting on the announcement by Bloomberg of the McCaleb space station. Cryptoinsightuk flagged some questionable occurrences regarding McCaleb’s engagements in the industry.

He highlighted the frantic sales of XRP and how he managed to escape regulators when Chris Larsen and Brad Garlinghouse were indicted in the Ripple versus SEC lawsuit. In addition, Cryptoinsightuk said Jed McCaleb sold Mt.Gox months before the infamous hack happened.

As a keen observer, he said these two events are too questionable to ignore.

Crypto Insiders Uk on X

Jed McCaleb dumping his XRP furiously

The founders of Ripple get sued by the SEC and one manages to escape scott free

We're talking about the founders of the coin not some random token

Plus he sells MtGox months before the hack

Come on surely two out of three isn't bad luck

This man is a scammer

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Implying that the Stellar founder had ulterior motives for his actions, another X user, Jim Knox, weighed in, saying McCaleb deliberately sold his XRP to harm community members

Responding to these claims, Jed McCaleb said he did not engage in XRP sales for the purpose Jim Knox indicated.

What Happened to XRP and Mt Gox Sales?

In his clarification, Jed McCaleb said he began selling his XRP long before the US SEC filed the lawsuit against Ripple Labs. He also stated that he notified the community when he was leaving and that he no longer believed in the project.

The Stellar founder said his disclosures were designed to allow people to front-run him. He noted that the alternative was to sell without letting anyone know. When he started Stellar, McCaleb said there was an offer for XRP holders to swap into XLM.

On the Mt.Gox sales, Jed clarified that he sold the trading platform several years before it suffered the infamous attack.

Despite this fact-checking by the Stellar founder, many in the community still expressed skepticism about his true intentions for the XRP ecosystem.

XRP Liberated by US SEC

A major challenge that the Ripple community has faced over the past four years is the lawsuit from the U.S. Securities and Exchange Commission (SEC). The market regulator alleged that the coin’s sales constituted an investment contract.

Afterכרס of legal battle, the Ripple lawsuit officially ended this week, pending approval by the commission. The end of this suit has set a major precedent for the broader digital currency ecosystem. It affirmed that securities laws do not bind programmatic sales of most cryptographic assets.

Under the new U.S. SEC, led by Acting Chair Mark Uyeda, many assets have been liberated, including XRP. An earlier XRP Price analysis predicts that this could propel the token to $150.