Bought This Instead of XRP! I regret…

XRP: In a recent tweet, David Schwartz, chief technology officer (CTO) of blockchain company Ripple (XRP), expressed a regret towards XRP. The CTO expressed his regret that he bought a stake in Ripple instead of XRP. Here are the details…

Titles

Ripple CTO shares his regrets

Ripple, one of the largest blockchain companies, said the US Securities and Exchange Commission (SEC) said choosing a stake in the company over XRP was “probably” a “pretty big” mistake. Ripple founders Arthur Britto, Jed McCaleb and Chris Larsen together bought 20 billion XRP. Schwartz bought a 2 percent stake in the company instead of the token. The architect of XRP Ledger claims that he can buy around 500 million tokens.

The manager also thinks that there is no point in buying XRP from Ripple. Because he explains that he can buy the token himself from the exchanges. The XRP cryptocurrency is currently trading at $0.36. The cryptocurrency is now down 89.27 percent from its record high recorded in early 2018. Larsen’s net worth skyrocketed to $59.9 billion at the height of the XRP rally. According to Forbes, as of 2022, the co-founder has a net worth of approximately $3 billion. CEO Brad Garlinghouse, who joined Ripple in April 2015, owns a 6.3 percent stake in the company alongside his “nine-digit” personal XRP stance.

McCaleb, who left Ripple in 2014 after falling out with other executives, finally emptied his wallet on Sunday, ending his eight-year sales streak, according to XRP Scan data. The news was welcomed by community members. Because that means there will be much less selling pressure on the token. McCaleb sold about one-fifth of the token’s total supply over an eight-year period.

Ripple ex-manager emptied his wallet

Meanwhile, former Ripple manager Jed McCaleb finally ended the eight-year dump of Ripple (XRP) assets. Only 46.7 XRP left in the famous “~tacostand” wallet. According to blockchain explorer XRP Scan, the former Ripple founder made the last transfer of 1.1 million XRP worth $394,742.18 on Sunday morning. Hours later, the account performed an “account deletion”. So the account will no longer be on XRP’s ledger.

The transaction marks the end of the 9 billion XRP sale initiated by McCaleb after he left Ripple Labs in 2014 to set up rival payment protocol Stellar. The amount McCaleb has sold over the past eight years represents about 18.6 percent of the total circulating supply of XRP. AmkNews.com As we reported on Friday, a “satirical” article from The Crypto Town Crier led some to believe that McCaleb has decided to hold onto his last five million XRP “just in case.”

Disclaimer: The articles and articles on AmkNews do not constitute investment advice. AmkNews.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is AmkNews an investment advisor. For this reason, AmkNews and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.

Warning: Citing the news content of AmkNews and quoting by giving a link is subject to the permission of AmkNews. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of AmkNews in violation of intellectual property law and relevant legislation.

Larry Brown

I graduated from Yale University, Department of Television. I have been a professional news writer for 3 years. I am continuing my career here by establishing amknews.com site 3 months ago.