Ripple CTO David Schwartz to step back and join board
Ripple chief technology officer David Schwartz announced he will step back from his day-to-day duties at the blockchain company.
Schwartz confirmed the move in a Tuesday post on X, saying he plans to reduce responsibilities after more than 13 years at Ripple.
He joined the company in 2011 as a cryptographer and was promoted to chief technology officer in 2018.
“The time has come for me to step back from my day-to-day duties as Ripple CTO at the end of this year,” Schwartz said. “I’m really looking forward to spending more time with the kids and grandkids and going back to the hobbies I set aside. But be warned, I’m not going away from the XRP. You haven’t seen the last of me (now, or ever).”
Schwartz will remain with Ripple as chief technology officer emeritus, an honorary title, and will also join the company’s board of directors.
Ripple CEO Brad Garlinghouse called Schwartz a “true OG in crypto” and praised his long-standing contributions.
A Ripple spokesperson said senior vice president of engineering, Dennis Jarosch, will take over leadership of the engineering team.
Data from blockchain analytics firm Nansen showed XRP rose 1.4% to $2.87 shortly after Schwartz’s announcement.
XRP , the fourth largest cryptocurrency with a $172 billion market value, previously hit an all-time high above $3.50 in July.
Ripple, known for its XRP Ledger, has grown into a global force with strong community support from the so-called “XRP Army.”
The company was also a major contributor to the US political action committee Fairshake, donating roughly $70 million for the 2024 elections and 2026 midterms.
Garlinghouse said in a 2024 interview that Fairshake might not have existed if not for the SEC’s enforcement case against Ripple.
The SEC case, first filed in December 2020, concluded in March after the regulator withdrew a key appeal.
At the time of reporting, XRP price was $2.84.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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