XRP News Today: Ripple CTO Suggests Satoshi Nakamoto Held XRP in 2017

In a recent development, a court document from the ongoing legal battle between the United States Securities and Exchange Commission and Ripple Labs has shed light on an intriguing assertion made by Ripple’s Chief Technology Officer, David Schwartz. During his deposition in 2023, Schwartz suggested that the creator of Bitcoin, known by the pseudonym Satoshi Nakamoto, likely held a substantial amount of XRP, Ripple’s native cryptocurrency.

Schwartz’s comments were part of a broader discussion on the differences between Ripple’s management of XRP and the decentralized nature of Bitcoin. He highlighted Ripple’s operational control over XRP as a key advantage in building a robust payments ecosystem. In contrast, he noted that tracking Bitcoin’s distribution is much more challenging due to its decentralized structure. Schwartz specifically mentioned that Satoshi Nakamoto probably held an enormous amount of XRP in 2017, a statement that has sparked renewed interest in the identity and holdings of Bitcoin’s mysterious creator.

Schwartz also emphasized Ripple’s strategic focus on developing infrastructure and utility around XRP, which he contrasted with the lack of comparable efforts for Bitcoin. He pointed out that Ripple’s direct involvement in XRP’s ecosystem sets it apart from Bitcoin’s purely decentralized approach. This distinction, according to Schwartz, is a significant factor in Ripple’s ability to influence the adoption and use of XRP in payment solutions.

Speculation surrounding Schwartz’s statement has led to renewed interest in the possible connection between him and Satoshi Nakamoto. Observers have noted that the timeline of XRP Ledger’s development and Nakamoto’s withdrawal from Bitcoin appear to align. Nakamoto announced his intent to move on to other projects in 2011, the same year Schwartz began to publicly express interest in new ventures. Shortly thereafter, Schwartz, along with Arthur Britto and Jed McCaleb, initiated the development of the XRP Ledger, which was launched in 2012 and later adopted by Ripple as the foundation of its blockchain-based payment platform.

Despite these observations and Schwartz’s comments, there is no concrete evidence confirming that Schwartz is the individual behind the Nakamoto pseudonym. His remarks during the deposition have added to the ongoing curiosity about the identity of Bitcoin’s creator and their potential involvement in other blockchain projects. While Schwartz’s insights provide a glimpse into Ripple’s strategic approach to XRP’s development, they remain speculative regarding Nakamoto’s holdings or identity.