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Following
XRP Brief: David Schwartz, former chief technology officer (CTO) of Ripple, disclosed his early holdings in Ripple stock, as well as his previously disclosed personal XRP investments and risk exposures.
After strategic investments and US$750 million in share buybacks, Ripple is valued at US$50 billion (in the private market), making early equity positions attract attention. Schwartz remains in contact with Ripple through the board, while Ripple Prime raised $275 million through the issuance of senior unsecured notes for business expansion.
Schwartz discloses his early accumulation of Ripple stock
Schwartz revealed in response to an X user that he had accumulated "a large amount of Ripple stock" in the early days of the company's founding. The discussion revolved around his financial situation after retiring from day-to-day responsibilities at the blockchain payments company. Schwartz did not disclose the specific number of shares, purchase price or the proportion of Ripple shares he previously held, but his response indicated that the company's equity was another important part of his early financial relationship with Ripple.
Previously, Schwartz disclosed that his XRP position had dropped significantly from its highest level in history. He revealed that his holdings had reached approximately 26 million XRPs, and currently only approximately 2 million are left. The news prompted an X user to ask whether Schwartz received generous retirement benefits after reducing his operational role. Schwartz did not directly respond to the issue of retirement compensation, but referred to the Ripple stake he accumulated in the company's early years.
Ripple is valued at US$50 billion, early-stage stocks are in focus
Ripple's rising valuation in the private equity market provides more context for Schwartz's disclosures, although its current shareholding status remains unknown. In November last year, the company received a strategic investment of US$500 million, with a valuation of approximately US$40 billion. Subsequently, a $750 million share buyback brought its valuation to approximately $50 billion, resulting in more attention to the early company's equity. However, the valuation could not determine Schwartz's personal wealth because he did not provide any details about dilutions, previous sales or remaining shares. As a result, his comments only confirmed that his financial exposure included a large stake in Ripple, as well as early accumulation of XRP.
Schwartz stayed in touch during Ripple's expansion
Schwartz initially joined Ripple as chief cryptographer, became chief technology officer in 2018, and subsequently moved to an honorary position of CTO. In addition, he joined Ripple's board of directors and served as a strategic adviser to XRP treasury firm Evernorth. At the same time, Ripple Prime issued $275 million in senior unsecured notes through private placement with a coupon rate of 8.25%, due in 2031. KBRA gave the note a BBB rating, adding new development to Ripple's broader financial operations.
Schwartz's disclosure confirmed that his early investments were not limited to XRP, but also included Ripple's equity, although the current value of this position has not yet been disclosed.
