In an exchange that has stirred conversation throughout the crypto community, Ripple’s Chief Technology Officer (CTO), David Schwartz—known by the online moniker “JoelKatz”—recently clarified that the company has no obligation to act in the interests of XRP holders. His remarks came in response to claims by prominent Bitcoin advocate Pierre Rochard, who argued that the company’s business decisions need not—and do not—prioritize XRP investors.
Ripple First, XRP Second
Rochard, a longtime Bitcoin proponent and vocal XRP critic, declared via X: “XRP isn’t a security because Ripple doesn’t actually owe you ‘utility’ or anything else. They are free to dump on you and you have no right to do anything about it other than join them in dumping XRP. That’s why XRP is not a security.”
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