David Schwartz, a key architect of the XRP ledger (XRPL) and Ripple’s Chief Technology Officer (CTO) for seven years, has just announced that he will step down from his role at the end of 2025, after more than a decade with the company.
While stepping back to focus on family and personal pursuits, Schwartz will remain connected by joining Ripple’s board of directors and staying active in the XRP community.
Some in the community were shocked by the announcement, calling it a defining moment that many will remember for a long time.
I’m sure, many of us have had one of those moments in life, you never forget, when and where you hear big news. One of those moments just happened for the XRP community, and the greater ecosystem system.
Others thought the news would have adverse effects on Ripple and XRP in general.
I genuinely do not think they realize how many XRP holders trust David over Ripple… This is one of the worst thing that could happen to XRP.
However, another Twitter user quickly pointed out that a seat on Ripple’s board is actually a bigger deal than just being CTO, and joked that Schwartz would now be in a position to fire CEO Brad Garlinghouse.
For those who are concerned David is stepping down, being a member of the board of directors is a bigger and higher-ranking position than a Chief Technology Officer (CTO).
He can basically have a say in firing Brad for example :)) . Just kidding, but that is technically true. pic.twitter.com/D7dZb0kJbZ
Related: XRP & DOGE ETFs Smash Debut Records Amid Ripple-led Tokenised Funds Roll-Out
Garlinghouse himself (maybe in an effort to appease his new boss?) called Schwartz the “smartest (and maybe the funniest)” person he knows and thanked him for all he has done at the company.
A true OG in crypto with the conviction and vision to see what others couldn’t — you are a legend. […] Wait…does this mean you’re my boss now!?!
The smartest (and maybe the funniest) person I know. A true OG in crypto with the conviction and vision to see what others couldn’t – you are a legend. Thank you David for everything you’ve done for the industry, for Ripple and for the XRP Ledger. We are all forever grateful…… https://t.co/tt4uX4JlkV
Schwartz – who has over 660k followers on the platform – isn’t just known as one of the most knowledgeable people in the industry, he’s also famous for his sense of humour. Here was his reaction to all the community buzz about his departure:
Hey everybody, save the kind words for when I die.
Schwartz said he is happy to get back into coding and working on use cases for XRP beyond Ripple’s.
I truly enjoy this part — getting my hands dirty, talking to builders, coding for the pure love of it — and I’m really excited to get back to that. More to come on this very soon, I’m sure.
Some in the crypto community have been speculating whether Schwartz had something to do with the creation of Bitcoin, or might even be the famed Satoshi Nakamoto.
Following a documentary about Bitcoin’s enigmatic creator, a community member asked whether the then-CTO had worked with or knew the people mentioned in the show. To which Schwartz simply replied:
Not really, I didn’t get involved until mid-2011.
Related: Documentary Claims to Know Identity of Bitcoin Creator Satoshi Nakamoto, Igniting Debate
Aaron Feuerstein is a freelance writer based in Melbourne. His focus is on decentralised finance and the regulatory space surrounding blockchain. He holds a Master’s in Accounting. When he is not studying the latest legal case, he enjoys his time as a modest but eager hobby cook.
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