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Who owns ripple : Explained !!


Jun 04, 2018 Posted /  1983 Views


Who owns ripple : Explained !!

Ripple a San Fransico based crypto-based company which is working on the principle of blockchain and does financial transactions, with the market capitalization of $88.9 billion and has a coin market cap of $2.39. recently ripple surpassed ether.

The ripple is opened by two American billionaires. The former CEO and the co-founder of ripple Chris Larsen who backed in November 2016 is now serving as the executive chairman has a personal holding of 5.19 million which is 17 percent of the stake as per the recent exchange rate he earns a net worth of $37.3 billion which had mas him the 15th richest man of America as in the Fobes 400 list he is tying with  steve ballerina the former CEO of Microsoft and the current owner of the NBA’s Los Angeles . he is ahead of the CEO of fidelity Abigail Johnson who is a fan of the cryptocurrencies.

Now the current CEO of ripple is brad garlinghouse who has a stake of 6.3% of ripple and as per the sources he additionally also owns the tokens of XRP and has a net worth of about $9.5 billion with grabs him the position of 54 on the Forbes list and is two slots below Charles Schwab.

The next person who got rich using ripple is their another co-founder Jed McCaleb he left a ripple in 2013 and rejoined the company after an agreement over owing of ripple, as said by McCaleb he has donated 2 million ripples in their donor advisor fund. The other 5.3 million of the ripple is in the custody of ripple form 2016 and they are taken out on monthly basis. Due to this agreement, he is only allowed to sell an average of less than 1% on their daily volume of exchange now the volume is said to be of 1%-2% if he is gained more access then we would be also a millionaire.

Currently, the ripple has more than 100 customers such as the Santander the American Express and now have collaborated with the US to UK based payment using Ripple.

Ripple is a less decentralized cryptocurrency than others. As if now ripple holds 61.3 billion xrp and 55 million is now kept in escrow and 38.7 billion xrp tokens re are now being distributed.

 


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Tags: Ripple Chris Larsen Abigail Johnson Jed McCaleb

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