David “JoelKatz” Schwartz, Ripple’s CTO emeritus and a member of Ripple’s board of directors, said in a series of X posts that he has reduced most of his personal crypto exposure, leaving Ripple stock as the main remaining link between his portfolio and the digital-asset sector. The comments came during a discussion about past crypto sales, XRP holdings, and whether investors seeking exposure to Ripple should look to private company shares rather than XRP.
David Schwartz Says He Has Cut Crypto Exposure
Schwartz’s remarks began after an X user referenced his well-known sale of ETH at $1.05 and suggested he would not have sold if he believed there was even a small chance of a much higher price. Schwartz replied that his decision reflected his assessment at the time. “If I had thought there was a 1% chance of it hitting $2,368, I would not have sold it for $1.05. I’m still not sure the odds of that happening really were more than 1% at the time.”
The discussion then shifted to XRP after another user asked whether Schwartz was still holding his XRP. Schwartz answered that his remaining position is no longer large and framed the decision as part of a broader move away from crypto risk. “I don’t have that much left anymore. I’ve tried to get most of my assets (other than Ripple stock) away from crypto exposure. As I’ve said, I really don’t like risk even though pretty much every risk I’ve taken has worked out amazingly well for me.”
Schwartz expanded on that point by saying he understands the upside he may be giving up. “I fully recognize that crypto may be a once-in-a-generation chance to get rich that we have not missed yet and that may mean that I miss a lot of it. I’m okay with that and hope my Ripple stock gives me enough exposure. I sleep better at night that way.” In a separate post, he added: “I’m not the diamond hands guy. That’s not me. I’m the smart, sensible investment guy who might miss the big opportunities. And I’m okay with that.”
Ripple Stock Now Anchors His Remaining Risk
Schwartz said his Ripple equity is now the primary reason he does not feel compelled to hold more XRP or other crypto assets. Asked whether he would view XRP differently if he had less Ripple stock exposure, he replied that he likely would. “Yeah. I think I would hold more XRP (and probably more of other cryptos as well) if I had less exposure to the crypto space through my Ripple stock. I kind of feel like that’s enough risk just there and almost everything else should be fairly conservative.”
The comments also prompted questions about whether XRP holders could one day receive priority access to Ripple shares if the company were to go public. Schwartz said information he has about secondary-market trading in Ripple shares is covered by non-disclosure agreements, while pointing users to private-market platforms such as Notice.co and Hiive for available data. He also pushed back on tying XRP more directly to Ripple’s equity value. “I’m personally not a fan of Ripple trying to do something like that. If people want exposure to Ripple’s gains and losses, they should buy Ripple stock on the secondary market. I don’t think it’s good for XRP for its value to become more entangled with Ripple’s success or failure than it absolutely needs to be.”
Schwartz later addressed demands for broader access to Ripple stock, saying securities law limits what Ripple can practically offer. “There really is no practical way for Ripple to do that under the law. Ripple stock is, without doubt, a security. If you want direct exposure to Ripple’s success or failure, you can buy Ripple stock on the secondary market if you qualify under US law. But you probably shouldn’t.” He also said any future Ripple public listing remains speculative, noting that a less friendly SEC could become a major issue for a U.S. listing.
AI Transparency Note: This article was prepared with the assistance of an AI system based on the sources listed and was reviewed, edited, and approved by a human editor before publication. All quotes, data points, and factual claims are intended to be grounded in the cited source material; however, errors cannot be ruled out entirely.
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