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.