David Schwartz, Ripple’s CTO, addressed renewed criticism of the relationship between Ripple and XRP. He responded directly to arguments that the company unfairly benefits from the sale of tokens.
Ripple’s David Schwartz responds to allegations regarding XRP sales
The discussion on X started when a user asked why retail participants couldn’t get ownership rights in Ripple itself instead of XRP. “The only problem I have with Ripple is you allowing us access to Ripple shares now or you are selling us a coin just for your company’s profits,” the post read.
Schwartz disagreed with the narrative. He highlighted regulatory hurdles related to traditional stock markets and rejected allegations of selling XRP for company profits. “There’s really no practical way for Ripple to do this under the law,” he said.
“Ripple shares are undoubtedly a security,” Schwartz added. These statements received attention, especially after he had previously expressed his disbelief at the expectations The price of XRP has risen to $10,000.
Schwartz also said that those who want to access the company’s shares can do so via secondary markets. He wrote: “If you want direct exposure to Ripple’s success or failure, you can buy Ripple shares on the secondary market if you qualify under US law. But you probably shouldn’t.”
The trade also highlighted popular comparisons being made between XRP and Ripple shares. Asked what his personal preference was in terms of assets, Schwartz commented on the difference between their roles. “It’s just completely different things,” he said.
Schwartz reveals that he owned a huge stash of XRP in the past
In addition to responding to the criticism, Schwartz provided a rare glimpse into his cryptocurrency holdings. While answering questions regarding his stance on XRP, he said: “My idea is not much, still more than a million.”
At that point he revealed that his holdings were much larger in the past. “I once had 26 million XRP,” Ripple’s CTO Emeritus revealed.
The discussion continued to mention other figures with Ripple, such as co-founder Arthur Brito. Schwartz admitted that he had little information about Brito’s current strategy but recalled some observations in the past about asset management.
“I vaguely remember him saying he was selling Bitcoin to cover expenses and not selling any or very little XRP,” Schwartz stated.
Previously, it was closed Allegations of a “secret plan” involving Ripple And the possibility of conspiracy theories.
