Ripple Cofounder Jed McCaleb Makes Forbes Rich List; Shiba Inu (SHIB) Aims for $3.5 Billion Market Cap; Bitcoin Miner MARA Begins Selling BTC: Morning Crypto Update

A recent Forbes Rich List reveals key players in the crypto industry, spotlighting notable names like Ripple cofounder Jed McCaleb. Meanwhile, the Shiba Inu token is attempting to reach a crucial market cap milestone, and Bitcoin miner Marathon Digital Holdings (MARA) has started liquidating some of its Bitcoin reserves.

Key Takeaways

Jed McCaleb is identified as a significant player in the crypto space with a net worth of $3.9 billion, ranking 11th among crypto entrepreneurs.
Shiba Inu (SHIB) is nearing an important price point of $0.0000006, with potential to hit a $3.5 billion market cap.
Bitcoin miner Marathon Digital (MARA) has moved 298 BTC to enhance liquidity and cover operational costs, amid rising mining expenses.

McCaleb's Recognition on Forbes Rich List

Forbes has unveiled its latest Rich List, highlighting the key owners and capital holders within the crypto industry. Alongside Binance founder Changpeng Zhao—recognized as the richest figure in cryptocurrency—Jed McCaleb's name also stands out. McCaleb, a prominent American programmer and entrepreneur, is known for founding Ripple, Mt. Gox, and Stellar.

At Ripple's inception, McCaleb received a substantial allocation of nine billion XRP from the total supply of 100 billion coins. According to Forbes, his current net worth is estimated at $3.9 billion, ranking him 1,108th overall and 11th among crypto entrepreneurs. Notably, from 2014 to 2022, McCaleb actively sold XRP, which constitutes a significant portion of his wealth. He has also directed a part of the $3 billion he earned towards charitable initiatives.

Chris Larsen, another co-founder of Ripple, similarly makes a mark on the list with an estimated net worth of $12.3 billion, positioning him 245th overall and sixth among crypto billionaires.

Shiba Inu's Price Movement

In other crypto market news, the Shiba Inu token is making strides to overcome the critical price level of $0.0000006. Yesterday, during a broader rally, Shiba Inu briefly reached this milestone, recording a daily increase of over 11%. Following this, a pullback occurred, considered a normal market correction. Currently, Shiba Inu is trading at approximately $0.00000056.

If the token can rise by about 7% shortly, it could push its market capitalization past $3.5 billion, according to CoinMarketCap. As of March 2026, this benchmark is significant for Shiba Inu, helping it stay within the top 30 cryptocurrencies by market size. While Shiba Inu has had stronger times, it continues to hold value relatively well despite the ongoing second crypto winter since the peak in 2021.

Shiba Inu (SHIB) Trading Chart
SHIB/USDT Price Chart on a 4-Hour Timeframe, Source: TradingView

Bitcoin Miner MARA's Shift in Strategy

According to CryptoQuant, Mara Holdings (MARA), the second-largest corporate holder of Bitcoin and a leading publicly traded mining company, has transferred 298 BTC to Cumberland, a market maker. This decision comes shortly after MARA introduced new mining policies allowing the sale of a portion of its Bitcoin reserves. As outlined by CryptoQuant, the cost of mining has escalated, with MARA's latest figures showing an average of $70,000 needed to mine a single Bitcoin.

MARA Bitcoin Balance Overview
Marathon Digital (MARA) Bitcoin Balance and Balance Change, Source: CryptoQuant

Recent estimates indicate costs of $31.3 per PH/s daily, with approximately 23.3 BTC mined each day. Efficient operations using advanced software and benefiting from low electricity costs can manage to mine Bitcoin for around $45,000 each.

It is vital to note that profitability is strongly influenced by hardware effectiveness, electricity prices, energy use efficiency, location, and overall operating expenditures. MARA's strategy is not unique; recently, Core Scientific also sold 2,174 BTC accumulated since 2024. MARA’s sales, as per their new policy, will be occasional and aimed at enhancing liquidity rather than complete liquidation, maintaining operational funding. As of late 2025, MARA held approximately 53,822 BTC.

Market Outlook Ahead

Throughout the broader market context from late 2025 to March 2026, prevailing sentiment has been cautious, with market participants closely tracking inflation reports. Today's release of the Consumer Price Index (CPI) is particularly pivotal.

In a bullish scenario, if inflation falls below 2.4%, it may encourage the Federal Reserve to lower interest rates soon, potentially allowing Bitcoin to surge toward $80,000. Conversely, a bearish scenario with inflation above 2.6% could strengthen the U.S. dollar while causing declines in risk assets like cryptocurrencies. For Bitcoin, this means potential support around $66,000 to $64,000. Observing the current trading dynamics, it appears that major players are adopting a wait-and-see stance until the official data is revealed.

Expect heightened volatility as the market approaches critical announcements, likely stabilizing into a range-bound period until clearer guidance is provided by the Federal Reserve.

BTC/USD Price Chart on Daily Timeframe, Source: TradingView