David Schwartz, known as one of the original XRP Ledger architects and the cryptographic brain behind Ripple, has finally set the record straight on the two trades that the crypto XRP community will not stop mocking him for — dumping 40,000 ETH at $1.05 and exiting nearly all of his Bitcoin before it crossed $7,500.
He confirmed that he had sold the entirety of his 40,000 ETH stash when the token was trading at just $1.05. As for Bitcoin, Schwartz said he could not recall the exact breakdown but is confident he offloaded almost all of it before the price reached $7,500 — most likely even before it touched $1,000
That is not the kind of story one shares to earn praise in crypto circles, but Schwartz was not aiming for that.
No financial advice from Ripple’s Schwartz
This information comes with a “this is not financial advice”-type disclaimer.
Due to extreme market conditions, call it “crypto winter” or whatever — and with XRP experiencing the sell-off too — Schwartz probably decided to warn his followers and the XRP community not to blindly follow and fall for any advice seen on social media right now about the investments.
Although the former Ripple CTO never shares direct price information, he sometimes engages with the X audience by providing puzzles, hints and clues. Not because they have something behind them, but just to mess with the conspiracy theorists who are trying to find meaning where there is none.
The lesson is that not every early crypto adopter becomes a billionaire. Some built the technology, missed out on the huge profits and still walked away as pioneers. Schwartz chose to remind the world that timing the market is harder than building the technology.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
Related Articles
Morgan Stanley enters bitcoin ETF race with market-leading low fee
Morgan Stanley plans to offer a spot bitcoin ETF at 14 basis points, undercutting competitors and potentially igniting fee competition in the market. This strategic pricing aims to attract investments by leveraging its vast wealth management network.
CoinDesk18m ago
US Lawmakers Unveil Crypto Tax Plan With No Bitcoin Exemption
An early-stage discussion draft released by U.S. lawmakers seeks a comprehensive overhaul of how digital assets are taxed, aiming to clarify treatment across a range of activities—from stablecoins to lending and staking. Introduced as a conversation starter rather than a bill, the Digital Asset
CryptoBreaking40m ago
Bitcoin Price Analysis: How Low Can BTC Fall After Losing $66K?
Bitcoin has entered a delicate phase. It is testing the lower boundaries of its recent consolidation after a significant retracement from late-2025 highs. Market structure now suggests a potential accumulation zone is forming, with short-term swings contained within a widening channel.
However,
CryptoPotato45m ago
Retail Sentiment Turns Bearish While Bitcoin Holdings Rise Across Both Small and Large Wallets
Bitcoin (BTC) suffered a fresh decline of nearly 4% on Friday as it slipped to $66,200, as conditions in the Middle East conflict remain extremely fragile.
Against this backdrop, retail traders grow increasingly bearish on the leading cryptocurrency, yet accumulation from different cohorts
CryptoPotato49m ago
Bitcoin Volatility Rising Again — Investors Are Turning to Everlight Shards for Passive BTC Rewards
Bitcoin opened 2026 with a brief window of relative calm — and then the market remembered what it does best. Geopolitical tensions, a derivatives market running on elevated leverage, and a macro environment still digesting shifting interest rate expectations have combined to push Bitcoin’s
CryptoPotato54m ago
Bitcoin in ‘later stages’ of bear market: Watch these BTC price levels
Bitcoin (BTC) sellers resumed their activity on Thursday as the BTC price slipped below the $70,000 mark.
Analysts said that Bitcoin showed signs of a bear market in its last stages, due to extreme fear and elevated realized and unrealized losses.
Key takeaways:
Bitcoin enters the last stages
Cointelegraph55m ago
