On Sep. 30, Ripple CTO David "JoelKatz" Schwartz announced his resignation after more than 13 years at the firm.
Ripple is one of the most popular blockchain tech and crypto payments firms in the world. Notably, Schwartz had been associated with both Ripple and the XRP Ledger since the beginning of these projects.
Related: What is Crypto? Cryptocurrency explained
Schwartz said he is stepping down as the Ripple CTO at the end of this year to spend more time with his family.
He shared that over the last few months, he has been researching other use cases for XRP besides what Ripple is focused on. Besides, he isn't leaving Ripple forever as he has accepted the offer to join the crypto firm's board of directors.
In the post, Schwartz thanked CEO Brad Garlinghouse, President Monica Lang, and co-founders Chris Larsen and Arthur Britto.
Garlinghouse was quick to respond to the announcement.
More News:
Ripple CEO asks Schwartz, 'You're my boss now?'
Garlinghouse called Schwartz the smartest and funniest person he knew and praised his contribution to Ripple and XRP Ledger.
"A true OG in crypto with the conviction and vision to see what others couldn't - you are a legend."
The CEO also said he was glad to see Schwartz joining the Ripple board. He lightheartedly added,
"Wait...does this mean you're my boss now!?!"
Both Garlinghouse and Schwartz share a long relationship at Ripple where they have been witness to the years-long battle over the regulatory status of XRP that got resolved some time back.
As per Kraken's price feed , XRP was exchanging hands at $2.86 at press time.
This story was originally reported by TheStreet on Sep 30, 2025, where it first appeared in the MARKETS section. Add TheStreet as a Preferred Source by clicking here.
