CTO Ripple David Schwartz lost more than $300,000 investing in altcoins
In the topic named “Have you lost money trading in bitcoin and any other cryptocurrencies” on Quora, David Schwartz, Ripple’s Chief Technology Officer said he lost more than $300,000 investing in altcoins.
CTO Ripple David Schwartz
Schwartz listed 11 tokens in particular that turned out to be bad investments for him, including TIX, DICE, FLASH, VEZT, AMP, SIG, BEE, KIND, PRYZE, KUDOS, NRN. Many of the altcoins went to zero in 2017 and 2018. Some altcoins he bought from the ICO bubble in 2017.
“I’ve bought quite a few cryptocurrencies that turned out to be disasters, my total losses, just on tokens that became completely worthless, is just over $300,000,” he said.
In October, David Schwartz has revealed that he sold 40,000 ETH for $1 each back then — a stash that would be worth more than $18 million at today’s prices.
The Riple’s CEO also said that he regretted selling a significant sum of BTC for $750 and a large trove of XRP at $0.10, but did not reveal the volume of the sales.
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