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Crypto

Former Ripple CTO says memecoins are not an investment, dismisses FUZZY backing claims

David Schwartz, a former chief technology officer at Ripple, said he has a negative view of treating memecoins as investments, as a community debate swirled around the XRP Ledger-based memecoin FUZZY. Schwartz denied that a settings change to receive the token was a sign of support, calling it a routine network procedure. He said he has no direct ties to FUZZY and no special information, while cautioning about the market impact of public remarks.

Crypto

Ripple CTO emeritus says XRP holdings cut to just over 1 million from 26 million

David Schwartz, Ripple\'s chief technology officer emeritus, disclosed he holds more than 1 million XRP and said his crypto exposure is now effectively limited to XRP and Ripple. He said he previously held far more XRP, at one point 26 million. Schwartz also said he sharply reduced his bitcoin and ether holdings, cutting bitcoin to under 1 and ether to under 2 after once holding more than 1,000 bitcoin and about 40,000 ether.