• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • About us
  • Write for us
  • Terms and Conditions
  • Privacy Policy
  • Disclaimer
  • Contact
  • All Posts
  • Advertise

TronWeekly

Crypto World News

  • Home
  • Education
    • Best TRON Wallets
    • Beginner’s guide to TRON
  • Opinion
    • Tron Tokens
    • Market Analysis
  • Industry
    • Tron Exchange
    • Project Review
  • Press Release
  • Advertise
  • About us
    • The Team
    • Editorial Policy
    • Write for us
    • Privacy Policy
    • Disclaimer
    • Terms and Conditions
    • Contact
You are here: Home / News / “Ripple Might Fail But Not XRP”- David Schwartz
"Ripple Might Fail But Not XRP"- David Schwartz

“Ripple Might Fail But Not XRP”- David Schwartz

November 12, 2022 by Lipika Deka

Ripple CTO David Schwartz was asked if the blockchain firm along with XRP would go down in the same way as FTX. Schwartz replied that “bad things can happen to Ripple as it’s a company, after all”.

But have a hard time picturing the same with XRP, unless there is a catastrophic failure of the ledger. The chief executive was questioned by a user on the likelihood of future acquisitions of Ripple by businesses like Apple or Microsoft.

He responded, “I don’t think it’s particularly likely. It’s hard for me to see how it would fit”. Schwartz then laid out two scenarios in the advent of a takeover.

One possible scenario is if such a company buys Ripple without the XRP, the blockchain firm would divide the token proportionately among its stockholders. “That solves that problem, but I still don’t see why it would happen,” he said.

Could a company want RippleNet so much that we split that off and sell it to them? Then XRP and RippleX would remain a separate company without RippleNet. I guess that’s theoretically possible. But still, I don’t see any reason for it.

Recently, Schwartz made a sarcastic tweet that the firm was planning to acquire the troubled FTX exchange but could not go ahead owing to encountering a problem with a sudden cash crunch, referring to the $8 billion FTX missing to stay afloat.

Ripple CTO Says Doors Are Open For FTX Employees

The top executive also made a suggestion that FTX staff members might consider a career in the blockchain payments company. An earlier version of this offer was made by Schwartz to Twitter employees, who were laid off as a result of the management.

FTX, a once-dominant crypto exchange is mired in a struggle with insolvency and is currently attempting to acquire around $9.4 billion in capital to keep solvent as the Binance merger failed.

According to a tweet from the exchange’s official Twitter accounts, it has already secured a line of credit from Tron to provide liquidity for tokens tied to TRX.

On-chain data indicated that the exchange has resumed processing withdrawals. The embattled firm through a tweet yesterday, made it clear that it is adhering to Bahamian regulations, the cryptocurrency exchange has, however, restricted withdrawals to its Bahamian customers.

Filed Under: News, Altcoin News Tagged With: david schwartz, ripple, xrp

Primary Sidebar

Recent Posts

  • Ethereum Surge: Dominating Q1 With $457M Revenue, Outshining L1 Rivals 2.8x June 3, 2023
  • Level Up Your Avatar: Nike NFTs Enter the World of EA Sports! June 2, 2023
  • Coinhub Bitcoin ATMs: Empowering America’s Crypto Enthusiasts, While Others Face Setbacks June 2, 2023
  • Pro Tips to Keep You on the Winning Streak When Playing Casino Games June 2, 2023
  • Unstoppable Momentum: DigiToads Rises to New Heights, Despite Ethereum’s Reduced Trading Volume June 2, 2023

Footer

News

  • Altcoin News
  • Bitcoin News
  • Blockchain
  • Tron News
  • World

Digest

  • Meet the Founder
  • Price Winning Article
  • DeFi
  • Cyber Security
  • Crypto Scam

Industry

  • Project Review
  • Technology
  • Fintech
  • Tron Exchange
  • New in Town

Tron Universe

  • Event and Tron Parties
  • New in Town
  • Tron Tokens

Follow Us

Subscribe US

Copyright © 2023 · Tron Weekly. All Rights Reserved. NOTE: Tron Weekly is an independent crypto news site that adheres to the strict journalism policy anchored on transparency, trust, and objectivity, we have no affiliation with the TRON Foundation, its founder Justin Sun or any other cryptocurrency firm.