David Schwartz, CTO emeritus at Ripple, revealed he accumulated a significant amount of Ripple stock during the company’s early days. The XRP Ledger was first launched in June 2012 by Schwartz, Jed McCaleb, and Arthur Britto, before Chris Larsen joined to found OpenCoin, now Ripple. Schwartz served as CTO from 2018 until late 2024, holding about 26 million XRP at his peak versus approximately 2 million XRP now. Ripple’s valuation reached $50 billion following a $750 million share buyback program, up from $40 billion during a $500 million strategic investment in November. Ripple Prime, its prime brokerage arm, raised $275 million through the private placement bond market with notes maturing in 2031 and an 8.25% coupon, rated BBB by KBRA.
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