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David Schwartz, the chief technology officer at Ripple, has reacted to the news about the U.S. president’s approval of the strategic cryptocurrency reserve, which aside from Bitcoin and Ethereum will include ADA, XRP and SOL.
Cardano founder Charles Hoskinson praised both the XRP technology and the work Schwartz has done to build and further support it.
Alex DovbnyaRipple CTO's "survey" for XRP community
David Schwartz published a tweet to pick the brain of his army of followers on social media platform X about “the best arguments in support of any kind of digital asset reserve.”
Schwartz stated that they could be for specific assets, all assets, or classes of assets. That part was not particularly important to him, the Ripple CTO admitted: “I don't care. I just want to hear the best arguments for any kind of reserve.”
One of the commentators suggested that perhaps a good argument in support of any digital asset reserve could be “helping to legitimize a sector that was stigmatized by government for years.”
The X user then clarified: “I see this as as “back to neutral.” The Ripple CTO agreed with that, appreciating the suggestion: “This is actually a pretty good argument.”
Yuri Molchan"Am I dreaming?!" - Ripple CTO on Hoskinson's XRP tweet
Earlier today, vocal Bitcoin critic and gold advocate Peter Schiff published a tweet full of puzzlement regarding Trump’s announcement about the cryptocurrency reserve made on Sunday.
Schiff said that he disagreed with the rationale for the Bitcoin reserve, though he understands it. But he was clearly doubtful on the necessity of adding XRP to that governmental bag: “But what's the rationale for an XRP reserve? Why the hell would we need that?”
Cardano founder Charles Hoskinson stood up to him to opine that he believes XRP to be “great technology, a global standard, survived for a decade through many harsh cycles, and has one of the strongest communities.”
When the Ripple CTO reacted to that statement by saying, “Am I dreaming?!” Hoskinson explained that he had spent some time “with the code and protocol for the Glacier Drop” and he now appreciates Schwartz’s work on XRP.
Schwartz in return praised Hoskinson’s work on Cardano with a focus on privacy.
Dan Burgin
Vladislav Sopov