Former Ripple Chief Technology Officer David Schwartz has disclosed that he sold the overwhelming majority of his cryptocurrency holdings over several years, significantly reducing his exposure to XRP, Bitcoin and Ethereum because of his personal aversion to financial risk.
In a series of posts on X between November 9 and 10, 2026, Schwartz revealed that his XRP holdings had declined from approximately 26 million tokens to 3 million, representing a reduction of roughly 88.5%.
His Bitcoin holdings fell from approximately 1,500 BTC to just one Bitcoin, while his Ethereum position declined from around 40,000 ETH to six ETH.
Schwartz, who stepped down from his operational CTO responsibilities in 2025 and became Ripple’s CTO Emeritus, emphasized that the sales reflected personal financial decisions rather than concerns about Ripple’s technology or XRP’s long-term prospects.
The disclosures attracted attention as XRP traded near $1.06 on November 11, following substantial losses across cryptocurrency markets.
Schwartz Details XRP Sales and $1.7 Million Tax Payment
Schwartz’s comments emerged during an online discussion about cryptocurrency taxation and investor reporting obligations.
On November 9, he disclosed selling approximately 2.5 million XRP during 2025, with most of those tokens originally received in 2020 and 2023.
He said the transactions resulted in approximately $1.7 million in capital gains taxes.
Schwartz also explained that his XRP sales followed written trading plans established with an attorney at least 30 days before execution.
The arrangements were intended to reduce concerns that transactions might be influenced by confidential information, including knowledge of potential XRP Ledger vulnerabilities.
His disclosures also highlighted a longstanding agreement with his wife to sell portions of their cryptocurrency holdings whenever prices reached new all-time highs.
Although Schwartz previously acknowledged regretting some early sales, he maintained that limiting financial exposure was more important than maximizing potential returns.
He described his risk aversion as a personal characteristic and suggested that it contributed to his decision not to pursue billionaire-level wealth.
Ripple Equity Remains Significant Despite Cryptocurrency Sales
Despite reducing his cryptocurrency holdings, Schwartz confirmed that he retains a substantial investment in Ripple through company shares.
He acknowledged that his remaining equity exposure itself exceeds his preferred level of financial risk.
Ripple equity and XRP represent different investments. Ripple shares provide ownership in the privately held payments company, while XRP is the native cryptocurrency of the XRP Ledger.
The distinction is important because Ripple’s commercial performance and XRP’s market value do not necessarily move together.
Schwartz’s statements prompted criticism from some XRP investors, who questioned why a prominent developer had reduced his holdings while continuing to discuss the network’s future.
However, his sales occurred gradually over several years rather than through a newly announced liquidation.
He also maintained that successful adoption of the XRP Ledger could support the cryptocurrency’s economic value, without offering a specific price forecast.
The disclosures illustrate how cryptocurrency founders and senior executives may manage personal financial exposure differently from investors, even while retaining professional and financial connections to the underlying technology.
