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1- The original post said nothing about dribbling the ball prior to sitting it on the floor. It said he was holding the ball.
2- Sitting the ball on the floor is not a dribble. If it was, it would be legal to gain position while having a knee touching the floor, sit the ball on the floor, rise to one's feet and retireve the ball. We know that's illegal but it is legal to begin a dribble from the same position. That tells us that sitting the ball on the floor is not the beginning of a dribble.
Therefore, this is not an illegal or double dribble. As has been said, there's no PC, so there's no travel.
No violation.
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