{"id":64545,"date":"2022-07-18T18:17:27","date_gmt":"2022-07-18T15:17:27","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=64545"},"modified":"2025-09-06T15:04:20","modified_gmt":"2025-09-06T12:04:20","slug":"ripple-cto-says-giving-up-xrp-for-a-stake-in-the-firm-was-a-big-mistake","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ripple-cto-says-giving-up-xrp-for-a-stake-in-the-firm-was-a-big-mistake\/","title":{"rendered":"Ripple CTO says giving up XRP for a stake in the firm was &#8216;a big mistake&#8217;"},"content":{"rendered":"<p>Ripple&#8217;s chief technology officer David Schwartz admitted that taking a stake in the company instead of XRP tokens was probably a big mistake.<\/p>\n<figure class=\\\"wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter\\\">\n<div class=\\\"wp-block-embed__wrapper\\\">\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\" data-width=\\\"500\\\" data-dnt=\\\"true\\\">\n<p lang=\\\"en\\\" dir=\\\"ltr\\\">The jury is still out, but it probably turned out to be a pretty big mistake. A number that was thrown around was 500 million XRP. And, of course, XRP is nearly perfectly liquid. 1\/2<\/p>\n<p>\u2014 David &#8216;JoelKatz&#8217; Schwartz (@JoelKatz) <a href=\\\"https:\/\/twitter.com\/JoelKatz\/status\/1548887087759273984?ref_src=twsrc%5Etfw\\\">July 18, 2022<\/a><\/p><\/blockquote>\n<p><script async src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n<\/div>\n<\/figure>\n<p>According to him, it was about 500 million tokens, worth about $180 million at the time of writing. He currently owns approximately 2% of the stake in the fintech firm.<\/p>\n<p>Schwartz commented on a Forbes piece about his role in creating Ripple products. The company&#8217;s founders Arthur Britto, Jed McCaleb and Chris Larsen collectively received 20 billion XRP. Current CEO Brad Garlinghouse owns about 6.3% of Ripple and a nine-figures number of the company&#8217;s tokens.<\/p>\n<blockquote class=\\\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\\\">\n<p>&#8220;To be clear, this wasn&#8217;t really a choice for me. In the early days it was about getting XRP or a salary, and I needed the money,&#8221; explained the programmer.<\/p>\n<\/blockquote>\n<p>In the tweet, Schwartz mentioned the ongoing <a href=\"https:\/\/forklog.com\/en\/news\/sec-files-suit-against-ripple\">Ripple&#8217;s lawsuit with the U.S. Securities and Exchange Commission<\/a> with an unclear outcome. He also noted that XRP has always been relatively liquid.<\/p>\n<p>On July 17, McCaleb <a href=\"https:\/\/forklog.com\/en\/news\/ripple-co-founder-liquidated-his-xrp-holdings\">completed the sale of his 9 billion tokens<\/a>, a sale that had stretched eight years since his departure from the company. Whale Alert tracked the sale of a total of 5.7 billion XRP worth about $3.1 billion.<\/p>\n<p>Earlier, in 2020, Schwartz said that he had sold 40,000 ETH at $1, sizable sums in BTC at $750 and XRP at $0.1, which he deeply regretted.<\/p>\n<p>He also admitted to losing about $300,000 on investments in lesser-known altcoins.<\/p>\n<p>Follow ForkLog&#8217;s bitcoin news on our <a href=\\\"https:\/\/telegram.me\/forklog\\\" target=\\\"_blank\\\" rel=\\\"nofollow noopener\\\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple&#8217;s chief technology officer David Schwartz admitted that taking a stake in the company instead of XRP tokens was probably a big mistake.<\/p>\n","protected":false},"author":1,"featured_media":64546,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1376,112],"class_list":["post-64545","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-david-schwartz","tag-ripple"],"aioseo_notices":[],"amp_enabled":true,"views":"21","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64545","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=64545"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64545\/revisions"}],"predecessor-version":[{"id":64547,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/64545\/revisions\/64547"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/64546"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=64545"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=64545"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=64545"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}