On the 21st of October, 2022, David Schwartz shared a hot take of his personal views on Ripple’s position.
Maybe this is the exhaustion talking, after a week of going to bed at 1AM and getting up at 7, but I feel more positive about Ripple's prospects, and those for the entire crypto space, now than I have in at least six years.
— David "JoelKatz" Schwartz (@JoelKatz) October 21, 2022
With the current case raging between the SEC and Ripple, David Schwartz, the chief technology officer at Ripple, came out to share two things on a hot take via his Twitter account.
The first is the current stress the Ripple team has been dealing with for the past week. He said that he has been sleeping for only 6 hours daily, going to bed by 1 a.m and waking up by 7 a.m. Which he later amended to a “3 a.m to 7 a.m” sleep cycle.
The second is his view on their position in the Ripple case. He disclaimed that it might be the exhaustion of his awful sleep cycle. However, he is quite positive about their prospects in the case, way more optimistic than he has been throughout his years in the crypto space.
Knowing fully well the position their case has for the whole web3 space, he acknowledged that their positive prospect is also for the entirety of the crypto space.
And in light of the tension and exhaustion caused by the crackdown on crypto companies, this tweet is timely for some who have attained hope from it.
David Schwartz is one of the original developers of Ripple’s consensus protocol and the xrp token. He joined the company in 2011 as its chief cryptographer and was assigned the position of CTO after seven years in 2018.
Under his leadership, the pill has grown to gain the trust of financial institutions and investors, allowing users to convert between currencies quickly. It is also more environmentally friendly than other blockchains like BTC and ETH.
Yet it seems that Ripple’s favorable relationship with financial institutions and their $1.3 billion transaction in xrp attracted the SEC’s attention.
If his intuition isn’t just exhaustion and there is some truth in his tweet, the crypto sector might get a win from this case.