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
Solana and XRP Slide Continues — New $100 BTC Reward Model Keeps Rising
SOL entered 2026 above $140 and has spent the first quarter giving most of that back. The asset is currently consolidating between $85 and $90 inside a rising wedge pattern that technical analysts flag as pointing toward further downside — a formation that typically signals weakening recovery
CryptoPotato1m ago
Arkham: Satoshi Nakamoto holds approximately 1.096 million BTC, followed closely by major exchanges, ETF issuers, governments, and publicly traded companies.
As of the beginning of 2026, Satoshi Nakamoto is still the world’s largest Bitcoin holder, holding about 1.096 million BTC. Other major holders include exchanges, ETF issuers, and governments, and the holdings of BlackRock and the U.S. government are both significant.
GateNews8m ago
'Extreme Fear' on Cryptocurrency Market: XRP, Ethereum, Bitcoin and Others Under Immense Pressure - U.Today
Major assets follow fear
Market will not stabilize
The Fear and Greed Index is currently printing single-digit values, indicating that the cryptocurrency market is deep in extreme fear. That type of reading indicates widespread risk aversion, forced selling and a lack of confidence among
UToday31m ago
Analyst: The key resistance level for Bitcoin is $72,500, which may continue to face pressure in the coming months.
CryptoQuant analyst Darkfost stated that Bitcoin's failure to return to the realized price of $72,500, excluding long-term inactive supply, may face continued downward pressure, having historically remained below this level for 6 to 10 months during bear markets.
BlockBeatNews49m ago
Bitcoin Faces Extended Weakness Below Key Cost Basis
Bitcoin struggles below the key $72.5K realized price, indicating resistance and consistent selling pressure. Recent price action highlights weak recovery signs with potential further declines if support at $66K fails.
CryptoFrontNews56m ago
