Former Ripple CTO Talks About Meme Coins as Investment
Ripple Chief Technology Officer Emeritus David Schwartz mentioned treating a meme coin as an funding feels distasteful. The Ripple veteran brushed apart XRP holders who urged him to endorse the FUZZY token on the XRP Ledger.
Schwartz, recognized on X as JoelKatz, made the comment throughout a weekend change about FUZZY. The meme coin references a pockets Ripple activated when the XRP Ledger launched in 2013.
Schwartz Pushes Back on FUZZY Endorsement Pressure
The dialog began after Schwartz opened a technical belief line for FUZZY. Some neighborhood members learn the transfer as a quiet sign of approval.
The token’s identify nods to the historic Fuzzybear pockets. That pockets positioned a well-known commerce of 1 XRP for 1 BTC within the early days of the ledger.
Schwartz rejected that interpretation. He instructed followers that opening a belief line is a routine community step. It is just not a vote of confidence in any particular challenge. He added that he has no direct involvement with FUZZY and is aware of no extra about it than every other observer.
The Ripple veteran additionally defined why he avoids public endorsements even when nothing detrimental surfaces a few challenge. He mentioned the danger of unintentionally selling dangerous actors retains him cautious. He additionally pressured he has no motive to assume poorly of FUZZY itself.
Meme coin Skepticism Cuts Across XRP Ledger Token Surge
His feedback arrive as the meme coin scene on XRP Ledger continues to attract retail consideration. Tokens such as ARMY, PHNIX, and RIPPY have posted sharp positive aspects over the previous few months. The exercise has pushed heavier buying and selling on platforms like First Ledger and Magnetic.
Other customers argued that meme cash lack intrinsic worth and commerce purely on the hope of a better bidder. Schwartz agreed. He mentioned makes an attempt to construct a critical portfolio round such tokens look ridiculous. Meme cash themselves nonetheless have a spot in web tradition, he added.
The skepticism aligns with how Schwartz has framed his wealth and Ripple’s broader posture. He has drawn a line between neighborhood tokens constructed for enjoyable and property that warrant critical place sizing.
The publish drew sharp reactions from XRP supporters. Some argued that meme coin liquidity tied to XRP helps the broader ecosystem no matter their private view. Others backed his warning and requested influencers to cease pressuring builders into public endorsements.
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