The relationship between Ripple, the XRP Ledger, and Stellar Lumens [XLM] has been well-documented throughout the growth of both of the parties. The latest development in the relationship between the two companies comes with Cory Johnson, the Chief Market Strategist at Ripple, offering his opinions on Stellar.
More recently, there has been talk of McCaleb dumping XRP tokens on the market in order to drive the price down further. This brought about the question as to whether McCaleb was functioning within the terms set by Ripple when they acted against him in a series of lawsuits. As clarified by the CTO of Ripple, David Schwartz:“Jed had a long string of bad ideas that Ripple’s Board of Directors refused to implement. So Jed started Stellar based on those ideas…[he] tried to dump his XRP quickly and Ripple acted to stop him through a series of lawsuits.”
When he decided to leave the company, a settlement was reached between McCaleb and Ripple, wherein he had to sell all the shares of the company he held. In return, he will slowly sell off all of the XRP owned by him and his children, as opposed to dumping it all on the market at once.
McCaleb then proceeded to badmouth Ripple in future instances, with one example presenting itself in an interview with CNBC, wherein he stated:“It’s very hard to run nodes outside of Ripple Labs. The team is running the majority of the nodes, which should be concerning for people.”
Cory Johnson spoke about XLM, stating that it was created by one of the founders of Ripple and one of the creators of XRP. He stated:“I don’t really have an opinion about it. I mean, you know, obviously a super smart guy but in order to build a really big business that uses the digital assets is a challenge. There are lots of companies developing on XRP. I don’t know many developing on Lumens other than Stellar.”