Yesterday, David “Joel Katz” Schwartz announced that his retirement from day-to-day duties as Ripple’s CTO.
Schwartz — who has worked on XRP Ledger since 2011, a year before the blockchain produced its first ledger — has previously admitted to selling off a large part of his XRP portfolio for $0.10 per token.
This means that he’s missed out on at least a 28X rally as of yesterday’s $2.80 price.
Schwartz agreed with his wife to sell his personal XRP at $0.10, claiming that it was part of an agreement to de-risk his volatile finances. He also claims he never owned more than 26 million XRP.
His current XRP holdings are unknown.
XRP currently trades near $2.80, a 100,000% climb from its all-time low of $0.0028, and a 2,800% climb from the $0.10 at which Schwartz says he sold a lot of his XRP.
At current prices, 26 million XRP would be worth over $72 million.
Schwartz says he might still stop by the office occasionally, this time with a new title of CTO Emeritus and a position on Ripple’s board of directors.
Read more: Years of hype but still no deal: SWIFT sidesteps XRP again
David Schwartz spent more than 13 years at Ripple
In his resignation post, Schwartz cited only his desire to spend more time with his family.
Yesterday, the world’s largest bank wire network, SWIFT, chose a Consensys-backed XRPL competitor to test on-chain wire messaging. The news disappointed many fans of XRP who were hoping that SWIFT would choose the XRP Ledger or a Ripple implementation.
Instead of mentioning his unrealized gains or complaining again about poor bank adoption of XRP, Schwartz focused on the positive with his parting thoughts.
He said he’ll continue to run an XRPL node and research use cases for XRP outside of the ones that Ripple has been pursuing and thanked his fans as well as Ripple co-founders when signing off.
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Source: https://protos.com/xrp-ledger-creator-david-schwartz-leaves-ripple-role-after-13-years/