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$589

@589CTO

Jul 31 • 10 tweets • 2 min read • Read on X

🚨 The forgotten Ripple founder...

➤ Built Mt. Gox
➤ Created the #XRP Ledger
➤ Cashed out billions in $XRP
➤ Launched Ripple and Stellar

And most XRP holders don’t even know his name.

This is the wild story of Jed McCaleb 👇🧵

1/ McCalebs's Early Life

👶 Born in Arkansas (~1975)
🧠 Self-taught programmer
📚 Dropped out of UC Berkeley (physics major)
💻 Started building on the internet before it was cool

He was coding decentralized networks before "crypto" was even a word.

2/ His first big play?

⚔️ eDonkey2000 (2000)
➤ A peer-to-peer file sharing network
➤ Millions of users
➤ Shutdown after RIAA lawsuits

His mission was clear from the start:
Kill the middlemen.

3/ In 2007, Jed launched a site for trading Magic cards:

🎮 Mt. Gox = “Magic: The Gathering Online eXchange”

By 2010, he pivoted it into a #Bitcoin exchange

⚡ It became the #1 BTC platform in the world, at one time handled 70% of all #BTC transactions.
🤝 He sold it in 2011 - before the collapse

4/ Then came @Ripple.

In 2011, Jed teamed up with:
🔹 David Schwartz
🔹 Arthur Britto
🔹 Later, Chris Larsen

They built the #XRP Ledger from scratch
No mining. Fast. Green. Ready for global finance.

5/ But in 2013, Jed left Ripple.

⚔️ Internal clashes
💰 Walked away with 9B+ XRP
🚀 Then launched Stellar (XLM) in 2014

Two blockchains.
Same mission.
Very different vibes.

6/ The #XRP he held?

💸 Worth billions
⏳ Locked in a structured sell-off agreement
🧹 Final $XRP sold in July 2022 out of the infamous "tacostand" wallet

For nearly a decade, he was $XRP's invisible whale.

7/ Stellar- Ripple's "less corporate" cousin

➤ Nonprofit
➤ More grassroots
➤ Global partnerships with IBM, UN, MoneyGram

Jed stayed quiet but kept building.

No hype. No lawsuits. Just code.

8/ Jed's legacy:

🧠 Built Mt. Gox
⚙️ Architected #XRPL
🚀 Launched Stellar
💸 Quietly cashed out
🏗️ Paved the way for crypto payments

Whether you love him or hate him - You’re standing on his rails.

9/ Jed McCaleb was here before most.

He built. He bailed. He built again.

The #XRP Ledger exists because of him.
So does Mt. Gox.
So does Stellar.

The man’s a ghost in the machine.
Respect the architects.

🔁RT and follow @589CTO for more

#XRP #XRPArmy #589Army

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$589

@589CTO

Aug 1

🚨 How Chris Larsen Brought XRP to the World 🚨

The #XRPLedger didn’t need another coder.
It needed a closer. A visionary. A fintech disruptor.

Enter: Chris Larsen.

Here’s why the devs behind #XRP chose HIM to lead the charge 🧵👇

1. He wasn’t a crypto bro. 😎

He was already disrupting finance.

🔹 Co-founded E-Loan in 1996
🔹 Built one of the first online lending platforms
🔹 Let users access their FICO scores before anyone else did
🔹 Took it public. $1B+ market cap.

He didn’t talk decentralization. He did it.

2. He scaled real companies. ⚖️

After E-Loan, he co-founded Prosper in 2005 - America’s 1st peer-to-peer lending marketplace.

He raised millions. Navigated compliance.
Fought for consumer finance rights.
Got legislation passed in California.

When #XRP’s devs wanted to go big… they brought in a grown-up.

Read 9 tweets

$589

@589CTO

Jul 31

🚨 THE TACO STAND WALLET - EXPLAINED

For nearly a decade, one man slowly dumped billions of #XRP onto the market.

His name? Jed McCaleb
His wallet? “tacostand”
His impact? Legendary.

Here’s the full story 👇🧵

1. Who is Jed McCaleb?

Jed co-founded Ripple and helped create the $XRP Ledger in 2012.

He left in 2013 after internal disagreements and went on to found Stellar (XLM) - a direct competitor to #XRP.

But he didn’t leave empty-handed…

2. Jed’s 9 Billion XRP Payout 💸

As part of his founder allocation, Jed walked away with 9 billion $XRP - nearly 10% of the total supply.

To stop him from crashing the price, @Ripple locked him into a strict selling schedule.

The #XRPCommunity was not thrilled.

Read 10 tweets

$589

@589CTO

Jul 31

🧵 Who is Arthur Britto?

The ghost co-founder of @Ripple.
The silent architect of #XRP.
The man who helped designed the Internet of Value…
Then vanished.

Here’s how his legacy still shapes the future 👇

$XRP #XRPL #589Army

1/🔧 Co-Creator of the #XRP Ledger

In 2011, Britto, David Schwartz, and Jed McCaleb built the #XRPL from scratch.

While Bitcoin maxis were obsessed with mining, Britto focused on speed, efficiency, and compliance.

The goal? Move money like the internet moves data.

2/⚙️ Built for Global Scale

Britto’s design choices weren’t random:

• No mining
• 3-5 sec settlement
• 1,500+ TPS
• Fraction-of-a-penny fees
• Finality without energy waste

It was built for institutional volume.

Read 10 tweets

$589

@589CTO

Jul 29

🧵 How David Schwartz quietly built the future of global finance

He didn’t just stumble into crypto.
He engineered distributed systems before Satoshi.

@JoelKatz patented scalable workload tech before “blockchain” was a word.

And now he’s CTO of @Ripple, helping shape a new financial system.

Let’s break it down 👇
#XRP #XRPArmy #XRPCommunity

1. 🧠 Early engineer, early vision

David Schwartz earned his degree in electrical engineering from the University of Houston in the early '90s.

But he didn’t wait to graduate to start building...

By 1988, he founded his own software company and filed a patent that foreshadowed Web3.

2. 📜 The forgotten “pre-blockchain” patent

In 1988, Schwartz invented a "multi-level distributed computer workload system" - U.S. Patent 5025369A.

🔹 Distributed processing
🔹 Fault tolerance
🔹 Redundant nodes
🔹 Workload delegation

Sound familiar? It should.

This was 15 years before the #Bitcoin whitepaper.

Read 9 tweets

$589

@589CTO

Jul 28

🧵 Brad Garlinghouse: The Perfect CEO for Ripple?

Most people know him as the face of Ripple...

But @bgarlinghouse's entire life - from high school to Harvard - has built him for one thing:

💥 Leading crypto into the Internet of Value.

Here’s the proof:
👇👇👇

1/ High School Brad was already a leader

🏫 Topeka High School
• Student Council President
• Editor of the school paper
• Homecoming King nominee

He wasn’t just smart - he was strategic. Even back then, Brad knew how to communicate, lead, and win people over.

2/ College? Same story. Bigger stage.

🎓 University of Kansas
• Degree in Economics
• Elected Student Body President

While others were partying, Brad was building the skillset to manage budgets, negotiate with university officials, and represent thousands of students.

That's CEO energy.

Read 11 tweets

$589

@589CTO

Jul 28

🚨 Did Ripple Co-Founder Chris Larsen just crash the $XRP price by 15%?

50 million XRP.
$175 million.

All moved while price was at local highs.

Let’s break down what really happened 🧵👇

#XRP #Ripple #XRPCommunity

1/ Whale alert 🐳

Between July 17–24, wallets linked to Chris Larsen (Ripple co-founder) moved:

👉 50M XRP (~$175M)
👉 Over $140M of it ended up on centralized exchanges

That’s a massive on-chain flag… and the price dropped over 15% right after 📉

2/ Is it confirmed he sold? 🤔

✅ Tokens were sent to exchange addresses
✅ Timing aligned with the $XRP drop from $3.64 → $2.95
❌ No official confirmation from @chrislarsensf or @Ripple

But let’s be honest… you don’t move $140M worth of #XRP to Binance to let it sit there 😅

Read 10 tweets

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