Former Ripple CTO David Schwartz sells most of his crypto holdings
Schwartz reduced his XRP holdings from 26 million to 3 million and his Bitcoin position from 1,500 to just one coin, citing an extreme aversion to market risk.
Key takeaways
- 1David Schwartz reduced his XRP holdings from 26 million to 3 million tokens.
- 2His Bitcoin position was cut from 1,500 BTC to just one coin.
- 3Schwartz liquidated 39,994 ETH, leaving him with six Ethereum.
David Schwartz, the former Ripple chief technology officer, has sold the vast majority of his cryptocurrency holdings after deciding he can no longer tolerate market volatility. Schwartz said on Wednesday that his personal disposition makes him "really, really hate risk", leading him to liquidate almost all of his positions in XRP, Bitcoin, and Ethereum. He reduced his peak holdings of 26 million XRP to 3 million, while his Bitcoin holdings fell from 1,500 BTC to just one coin.
The divestment also included a near-total exit from Ethereum, where Schwartz cut his position from 40,000 ETH to just six. He said the decision was driven by a desire to avoid the heavy price swings that characterise the digital asset market. Schwartz did not specify when the sales took place but indicated that his current portfolio is now a fraction of its former size.
Ripple is the company behind the XRP Ledger and the XRP token, which is used for international payments and liquidity. As a founding figure and technical architect, Schwartz is one of the most prominent voices in the XRP community. His move to sell such a large portion of his holdings follows his long-term involvement in the development of the underlying software and the broader digital asset market.
The disclosure suggests that even high-profile figures within the industry are re-evaluating their exposure to the asset class based on personal risk tolerance. While Schwartz remains active in the sector, his shift toward a more conservative portfolio reflects a broader caution regarding the high-risk nature of crypto assets. Traders will watch whether other early developers or executives follow suit as they look to secure gains or reduce volatility in their personal wealth.
Reported and edited by the YourKhabri desk under our editorial policy. Nothing here is investment advice.