HomeEthereumRipple CTO's Ethereum Investment Revealed During Ripple-Cardano Debate

Ripple CTO’s Ethereum Investment Revealed During Ripple-Cardano Debate

-


Insights into David Schwartz’s Early Ethereum Investment and Ripple-Cardano Controversy

Ripple’s Chief Technology Officer, David Schwartz, recently made headlines after revealing the reason behind his early investment in Ethereum. The revelation came during a heated online argument with Cardano’s founder, Charles Hoskinson, over the controversial “ETH Gate” theory.

Schwartz disclosed that he got involved in the Ethereum project in its early days through his personal connection with Ethereum’s co-founder, Vitalik Buterin. He invested 20 Bitcoins, which at the time yielded him 40,000 Ethereum tokens when the price was just $1. However, Schwartz later sold all his Ethereum holdings to fund the installation of solar panels in a house he no longer owns, a decision he now regrets as the value of Ethereum skyrocketed shortly after.

The ongoing dispute between Hoskinson and Schwartz revolves around the “ETH Gate” theory, which alleges that Ethereum had undue influence on regulatory bodies, particularly the U.S. Securities and Exchange Commission. While Hoskinson dismisses these claims as conspiracy theories, Schwartz believes that former SEC Director William Hinman may have been involved due to his connections to Ethereum.

Despite the controversy, Ripple’s native cryptocurrency, XRP, continues to trade at $0.519716 per XRP/USD with a market cap of $28.77 billion as of May 10, 2024. While the price has seen a slight decline over the past 24 hours, XRP’s long-term potential remains promising, especially in cross-border payments and other applications.

LATEST POSTS

Expert Predicts the Era of Ethereum: Implications explained

Insights on the "Age of Ethereum" by Ryan Berckmans: A Game-Changer for Blockchain Technology? The Age of Ethereum: Prominent Investor Boldly Predicts Ethereum's Rise Amidst...

Rural Kentuckians continue to wait for noise relief as they look to Arkansas’ new crypto mining law – Kentucky Lantern

Noise Concerns and Regulation Challenges Surrounding Cryptocurrency Mining Operations in Rural Kentucky The quiet rural community of Wolfe County in Kentucky has been disrupted by...

Binance’s Key Move Puts AVAX and MATIC Under Pressure

Binance Delists AVAX and MATIC's TUSD Trading Pair: Price Pressure Expected Binance Delists AVAX and MATIC’s TUSD Trading Pair, Price Pressure Expected In a recent move...

Donald Trump scheduled to address Bitcoin conference

Trump to Speak at Bitcoin Conference in Nashville: Will Crypto Community Support Him in the Election? The upcoming Bitcoin Conference in Nashville, Tennessee is set...

Most Popular