As discussions about Ripple's sales continue, Ripple CTO David Schwartz spoke about the sales.
Ripple CTO defended the XRP sales by stating that Ripple has no obligation to hold XRP.
Schwartz said that Ripple acts in its own interests, not those of investors, and that it is free to sell XRP tokens to increase operational capital.
“100% correct. I believe Ripple can, will and should act in its own interests. You should not expect Ripple to act in your interests at the expense of its own interests or those of its shareholders.
Those who deliberately create confusion about the relationship between Ripple and XRP are mostly the “XRP is a security” crowd.”
Riot Platforms Vice President Pierre Rochard also supported this view, emphasizing that XRP owners have no rights other than selling and that XRP is not a security.
Rochard said the following in his post to investors:
“XRP is not a security because Ripple does not actually owe you any 'benefits' or anything.
They can attack you and you have no say in the matter except to join them in trashing XRP. That's why XRP is not a security.”
The Ripple CTO and Riot VP’s comments come after blockchain researcher ZachXBT uncovered a dormant XRP wallet holding more than $7 billion tied to Ripple co-founder Chris Larsen.
XRP surged after Donald Trump’s crypto reserve announcement but has failed to hold above $3. At the time of writing, XRP is trading at $2.4.
*This is not investment advice.
