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It’s early this month, which means Ripple has just unlocked another trillion XRP
BUY NOW from your wallet.
Ripple has been routinely criticized for unlocking tokens. The first day of each month yesterday, the activation took place in May.
1 billion XRP unlocked
Whale Alert (@whale_alert) reports that Ripple has unlocked more tokens as expected. Yesterday the team transferred a total of 1B XRP in three separate transactions from 500M, 400M y 100M XRP.
The total XRP released in May is worth around $ 220 million at current prices. It’s unclear why the Ripple team needs hundreds of millions of dollars every month.
In addition to the monthly activation, a Ripple co-founder also received his XRP batch. Jed McCaleb received 55 million XRP yesterdayas well as part of its liquidation.
As BeInCrypto previously reported, McCaleb received 63 million XRP in April. He is believed to have 4.7 billion XRP, making him one of the richest people in the world in cryptocurrency. Whether this is deserved or not is another story – McCaleb simply receives a payment for co-founding a token that he would leave. Indeed, some would say that he was exceptionally “happy”.
The norm for ripple
Ripple has been widely criticized for its monthly token unlocks, which are valued at hundreds of millions of dollars at current prices. The explanation of what is done with these XRP tokens is never made clear. This has prompted some to accuse Ripple of selling their shares monthly as a plus token scam.
Some major exchanges have teased Ripple from time to time. Arthur Hayes, CEO of BitMEX, twice called Ripples XRP “fool”, but decided to list it anyway. Due to the inclusion in the list, the tab “dogsh * t” was named.
Ripple recently tried to get into the fight with a high-profile lawsuit against YouTube. Ripple recently sued the streaming giant for promoting XRP-related scams on its website. YouTube live streams have been claimed to fake ripple endorsements and steal money. YouTube has not yet responded to the lawsuit.
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