The post Ripple CTO Defends XRP Holdings Amid Investor Criticism appeared on BitcoinEthereumNews.com.

Following the SEC’s appeal to the Supreme Court over Ripple’s recent court win, Ripple CTO David Schwartz tried to address a previous recurring concern. Schwartz reassured the XRP community that he’s committed to Ripple’s value and working for all stakeholders. Amid criticism from investors, Schwartz clarified that his XRP holdings have fluctuated alongside everyone else’s. Ripple CTO Defends XRP Amid Investor Criticism Now, the SEC has appealed to the Supreme Court to reverse a previous decision that favored Ripple. Ripple’s XRP sales on secondary markets and individual sales by executives Brad Garlinghouse and Christian Larsen did not violate securities laws; the judge had previously found. – Advertisement – Context was also provided by Schwartz, who explained that an investment contract is one where one party commits to act for another. He maintained that ‘mere reliance on the self-interest of an individual’ did not make an investment contract and likened that to purchasing art from a newish artist without hope of any future gain. Contractually, they are different; XRP doesn’t inherently meet the Howey Test in being an investment contract, he said. Schwartz hoped the Supreme Court would take a practical approach to the law. – Advertisement – When an investor comes up to him and accuses him of profiting from XRP at the community’s expense, Schwartz points to the equal rise and fall of his XRP holdings. ‘He made clear that his role at Ripple is to serve the entire XRP ecosystem, and his personal XRP has experienced the same volatility as others.’ This statement aimed to calm the community down because Schwartz’s interests are aligned with those of the community. Schwartz reiterated that he is working to achieve XRP’s success and that everything he does aims to support Ripple and all XRP holders. His remarks stated, “Even while we are in ongoing legal…

---

Filed under: News - @ November 14, 2024 10:26 pm