Role (Historical)
XRPL Co-founder (Departed)
Current Role
Co-founder, Stellar
Also Known For
Created Mt. Gox, eDonkey
XRP Holdings
Sold All (by 2022)
Departed Founder
Left Ripple in 2013
Jed McCaleb
Serial entrepreneur who co-founded the XRP Ledger before departing to create Stellar. Previously created Mt. Gox (later sold) and the eDonkey file-sharing network. One of the most consequential—and controversial—figures in crypto history.
The Original Vision
Jed's original concept was a faster, cheaper alternative to Bitcoin. He brought in David Schwartz and Arthur Britto to build it, then Chris Larsen to commercialize it. But creative differences led to his departure just months after launch.
Why He Matters
As co-founder, Jed received 9 billion XRP. His decade-long selling of this stake (completed 2022) was a major market factor. His departure also led to Stellar, now a major XRP competitor.
A Complex Legacy
Jed's relationship with XRP is complicated. He helped create it, then left and built a competitor, then spent nearly a decade selling his founder stake. Some see him as a visionary; others view his XRP sales as suppressing price. The truth is nuanced.
Career Timeline
2000
Created eDonkey
Built the eDonkey file-sharing network, one of the largest P2P platforms of its era.
2007
Created Mt. Gox
Originally a Magic: The Gathering exchange. Pivoted to Bitcoin in 2010. Sold before the infamous hack.
2011-2012
Co-created XRP Ledger
Conceived idea for faster Bitcoin alternative. Recruited David Schwartz and Arthur Britto to build it.
2013
Departed Ripple
Left due to disagreements over company direction. Departure terms included selling restrictions on 9B XRP.
2014
Founded Stellar
Created Stellar as XRP competitor. Focused on developing world financial inclusion.
July 2022
XRP Sales Complete
Finished selling all 9B XRP holdings. No longer holds any XRP.
The Three XRPL Founders
David Schwartz
CTO Emeritus
Public technical leader, active on Twitter, leads protocol development
Arthur Britto
Co-Creator
Anonymous, no public presence, independent from Ripple
Jed McCaleb
Co-founder (Departed)
Left in 2013, founded Stellar, sold all XRP by 2022
The XRP Sales Saga
9 billion XRP over 8 years
The Original Agreement
When Jed left Ripple in 2013, he agreed to restrictions on selling his 9 billion XRP founder allocation. The agreement was later modified in 2016 to set specific daily and weekly selling limits based on market volume.
Community Tracking
XRP community closely monitored "Jed's Wallet" for years. Websites tracked daily sales and projected completion dates. The selling pressure was a constant topic of discussion and concern for XRP holders.
The Final Sale
In July 2022, Jed's wallet finally emptied. The XRP community celebrated the end of 8 years of sustained selling pressure. Estimated total value of sales: several billion dollars depending on timing.
Impact Assessment
With Jed's sales complete, a major source of constant sell pressure has been removed from XRP markets. Analysts debated how much this suppressed price—now the market can function without this known seller.
XRP vs Stellar: The Fork
XRP Ledger
- Enterprise and bank focus
- 100 billion total supply
- Ripple as primary developer
- Cross-border payments focus
Stellar
- Financial inclusion focus
- 50 billion total supply
- Non-profit foundation model
- Developing world target
Key difference: Stellar started as an XRPL fork but rewrote its consensus protocol. Both target payments but serve different markets.