30 Dec Nobody Buys XRP to Give Ripple Money: David Schwartz
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Contents
- Ripple doesn’t need your money
- What’s the point of XRP?
There is an ongoing Twitter debate about whether or not Ripple ran an initial coin offering (ICO) by selling XRP tokens, which was started by former Bitcoin Core developer Peter Todd.
According to Ripple CTO David Schwartz, the blockchain titan doesn’t get money from those who buy XRP tokens. Instead, it gets funded by venture capitalists and angel investors.
Nobody buys XRP to give Ripple money to do things. We were vc/angel funded and were going to build regardless. We started selling XRP only after there was a market price and for negligible amounts compared to our other funding.
— David Schwartz (@JoelKatz) December 29, 2019
Ripple doesn’t need your money
Schwartz explains that…
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