Ripple CTO Recalls Choosing Company Stock Over XRP

Ripple’s chief technical officer (CTO), David Schwartz, recently stated in a tweet that choosing a company stake over XRP was “probably” a “very huge” mistake.

XRP’s three founders, Arthur Britto, Jed McCaleb, and Chris Larsen, split 20 billion XRP. Instead of the token, Schwartz received a 2% stake in the company.

Receiving XRP from Ripple was ineffective

According to the creator of the XRP Ledger, he may have received more than 500 million tokens. The executive claims that receiving XRP from Ripple was pointless because he could easily purchase the coin on exchanges. The XRP cryptocurrency is currently trading at $0.36. The cryptocurrency is currently down 89.27 percent from its all-time high, which was set in January of this year.

According to XRP Scan data, McCaleb, who left Ripple in 2014 following a disagreement with senior executives, finally spent all of his money on Sunday, capping an eight-year selling streak. Members of the community were relieved to hear the news because it indicates that the token will face less selling pressure. Over the course of eight years, McCaleb sold roughly 5% of the token’s total supply.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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