Ripple CTO David Schwartz reflected on his decision to take a stake in the company instead of XRP

According to Ripple CTO David Schwartz, opting for a stake in the company instead of XRP was “probably” a “pretty big” mistake. Together, Ripple founders Arthur Britto, Jed McCaleb, and Chris Larsen received 20 billion XRP.

Ripple CTO Regrets Choosing Company’s Stock Instead of XRP

Schwartz took a 2% stake in the company instead of the token. The architect of XRP Ledger claims that he could have received around 500 million tokens. The executive explains there was no point in getting XRP from Ripple because he could buy the token on exchanges himself. XRP price is now down 89.27% from its record peak that was recorded back in early 2018.

Larsen’s net worth skyrocketed to as high as $59.9 billion at the peak of the XRP rally. As of 2022, the co-founder has a relatively modest net worth of around $3 billion, according to Forbes. CEO Brad Garlinghouse, who joined Ripple in April 2015, owns a 6.3% stake in the company on top of a personal XRP stance of “nine figures.” McCaleb left Ripple in 2014 after a falling-out with other executives, finally emptied his wallet on Sunday, ending the eight-year selling streak of selling, according to XRP Scan data. Members of the community welcomed the news since it meant that there would be much less selling pressure on the token. McCaleb has sold nearly a fifth of the token’s total supply over eight years.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

You might also like