Stellar CTO and Ripple architect Jed McCaleb collected a whopping $ 411 million in XRP in 2020, according to an updated report from blockchain analysis account Whale Alert.

McCaleb sold 1.2 billion XRP throughout the year at an average price of $ 0.34 per coin, amassing nearly half a billion dollars. The amount reportedly represents 27% of McCaleb’s XRP stock held in a settlement account with Ripple Labs, and marks a strong acceleration in his sales to date. He has sold about a billion XRP in the past five years between 2014 and 2019.

According to Whale Alert estimates, the combined value of McCaleb’s current and liquidated XRP holdings is approximately $ 1.2 billion, placing him high on the rich crypto list.

McCaleb also appears to have timed its sales well, with Ripple currently facing lawsuits from both the SEC and from a major investor who entered the company’s $ 200 million Series C funding round in 2019.

McCaleb controversially received a co-founder award of 9.5 billion XRP when he left Ripple Labs in 2014. In the same year, McCaleb signed an agreement with Ripple Labs that would limit the amount of XRP he can sell per week to avoid negative market pressure.

Despite widespread criticism, McCaleb has repeatedly stated tried to assure investors that its sale has not affected the price of XRP. The McCaleb-Ripple Labs agreement expires in 2023.

On January 1, 2020, McCaleb received XRP 477.7 million from his settlement account with Ripple Labs. McCaleb’s accompanying wallet still holds 652.1 million XRP – worth about $ 147 million at current prices.

In the original report on McCaleb’s XRP sales in February, Whale Alert warned of the potential risks associated with a single entity exerting such significant economic influence on a project in which they are no longer involved:

“Whether you believe the future looks bright for blockchains like Ripple, the economic power and ramifications of whales like Jed McCaleb cannot be ignored …”