Ripple ‘should act in its own interest’ when selling XRP, Ripple CTO says
The post Ripple ‘should act in its own interest’ when selling XRP, Ripple CTO says appeared on BitcoinEthereumNews.com.
Ripple Labs’ chief technology officer (CTO), David Schwartz, said the company has a right to sell XRP tokens for operational funding, stating that Ripple is under no obligation to act in the interests of investors. In response to online critics against XRP, his remarks come just days after US President Donald Trump proposed adding the token to the planned national strategic crypto reserve. Schwartz’s comments surfaced following a Wednesday post by Pierre Rochard, vice president of research at Riot Platforms, who argued that XRP investors should not expect the company will put them first. “XRP isn’t a security because Ripple doesn’t actually owe you ‘utility’ or anything else,” Rochard wrote on X. “They are free to dump on you, and you have no right to do anything about it other than join them in dumping XRP.” Schwartz, known by his online alias “JoelKatz,” seemingly agreed with Rochard’s assessment. “100% correct. IMO, Ripple can, will, and should act in its own interest,” he responded. When pressed about Ripple’s obligations to its shareholders, the CTO made it clear that the company operates as a privately held corporation, which is obligated to prioritize its shareholder interests. Debate over Ripple’s long-term strategy The social media chatter surrounding Ripple comes just two days after blockchain security sleuth ZachXBT revealed the existence of a dormant XRP wallet potentially linked to Ripple co-founder Chris Larsen. The wallet, which had been inactive for over six years, reportedly contains more than 2.7 billion XRP tokens, valued at approximately $7.18 billion. On his Telegram channel, ZachXBT also noted that accounts tied to Larsen had transferred over $109 million worth of XRP to exchanges in January 2025. Some crypto community members believe Larsen may have lost access to the funds due to its dormancy, but the revelation has started a train…
Filed under: News - @ March 5, 2025 4:28 pm