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Jed McCaleb, the founder of Stellar, responded to criticisms regarding early XRP sales and past platform activities. Following accusations from social media users, McCaleb emphasized transparency in his statements. He pointed out that he began selling XRP long before the U.S. Securities and Exchange Commission (SEC) initiated a lawsuit against Ripple 
$2. Furthermore, he expressed that he kept the community informed throughout the selling process.
McCaleb: “I Did Not Sell to Harm the Community”
In his response to allegations that he harmed the community, McCaleb denied the claims over social media. Some users suggested that McCaleb took deliberate steps to evade regulatory scrutiny. For instance, a user named “Cryptoinsightuk” questioned McCaleb’s sales strategies following a Bloomberg report. Another user, Jim Knox, claimed the sales were intended to directly harm the XRP community.
McCaleb rejected these criticisms, asserting that his XRP sales were not aimed at harming the community. He clarified that the sales began long before the SEC lawsuit against Ripple and were conducted transparently. He also stressed that the community was kept informed during the entire process, stating that his goal was to prevent market manipulation.
XRP Lawsuit and Its Market Impact
McCaleb reiterated that he initiated XRP sales before the SEC’s lawsuit against Ripple. He highlighted that his sales decisions were independent of legal processes. Additionally, he mentioned that sales on the Mt. Gox platform occurred years before it was hacked. These statements have brought past criticisms back into discussion.
The SEC’s lawsuit against Ripple has significantly impacted the cryptocurrency market. Recent developments, however, have led to speculation that regulatory pressures on XRP might ease. Some market observers believe that the new regulatory stance could positively influence XRP’s prices.
Nevertheless, McCaleb’s statements may not align directly with investor expectations. The XRP community has been cautious about McCaleb’s sales for a long time. His past high-volume transactions have drawn reactions, particularly during price fluctuations, leaving lingering doubts despite recent clarifications.
