Ripple CTO David Schwartz Reflects on Gary Gensler’s Departure

Ripple’s Chief Technology Officer, David Schwartz, recently took to X (formerly Twitter) to discuss the departure of Gary Gensler as chairman of the U.S. Securities and Exchange Commission (SEC). In a series of tweets, Schwartz touched on the significance of Gensler’s resignation and urged the crypto community to adopt a more united and positive stance.

Crypto’s New “Enemy”?

Responding to a commentator’s question about who the new “enemy of crypto” might be following Gensler’s exit, Schwartz remarked:

“I don’t think we know right now. Perhaps such a big crypto critic as Gensler won’t emerge.”

While Gensler was seen as a prominent adversary of the crypto industry during his tenure, Schwartz suggested that the landscape might now be less contentious, though uncertainty remains.

Ripple’s Alderoty: “Gary Who?”

Ripple’s Chief Legal Officer, Stuart Alderoty, also weighed in on Gensler’s final day as SEC chair. In a tweet, Alderoty humorously predicted that the crypto community would soon forget Gensler’s role:

“Starting tomorrow, ‘Gary who?’ will be the only appropriate response if someone mentions his name.”

In response, Schwartz jokingly quoted a line from the 1984 movie Ghostbusters, saying, “I’m gonna miss him,” adding a lighthearted note to the discussion.

XRP’s Past ATH: A Clarification

In a separate conversation earlier this week, Schwartz shared insights about XRP’s all-time high of $3.84, recorded in January 2018. He clarified that this widely reported ATH was influenced by the “Kimchi premium” on South Korean exchanges, where additional fees inflated the price of cryptocurrencies like XRP.

Schwartz emphasized that the $3.84 figure was not reflective of the broader market:

“Nobody paid $3.84 to buy XRP or received that much when selling it back then,” he noted.

A Call for Unity in the Crypto Space

In addition to addressing Gensler’s departure and XRP’s history, Schwartz urged the crypto community to stop attacking one another and focus on fostering a more collaborative and supportive environment. His message serves as a reminder of the importance of unity, particularly as the industry navigates an evolving regulatory landscape.