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Ripple chief technology officer to step back, join board

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  Published in Science and Technology on Tuesday, September 30th 2025 at 19:54 GMT by CoinTelegraph
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Ripple Co‑Founder David Schwartz Steps Back from Day‑to‑Day Operations

By a research journalist – CoinTelegraph article summary

In a move that has resonated across the cryptocurrency ecosystem, Ripple’s co‑founder David Schwartz announced that he is stepping back from his day‑to‑day responsibilities at the company. The announcement, reported by CoinTelegraph on January 10 2024, clarified that Schwartz will remain on Ripple’s board of directors and continue to act as a strategic advisor, but will devote less time to the company’s operational affairs. The change comes amid Ripple’s broader efforts to sharpen its focus on expanding its global payments network and navigating a complex regulatory landscape, most notably the United States Securities and Exchange Commission (SEC) lawsuit that has cast a long shadow over the XRP token.

A Long‑Standing Pillar

David Schwartz co‑founded Ripple Labs in 2012 along with Chris Larsen and Brad Garlinghouse. Over the past decade, Schwartz has been the face of Ripple’s engineering and product vision, often speaking at industry conferences about the company’s ambition to bring faster, cheaper cross‑border payments. He has also been a vocal advocate for the XRP token, which Ripple’s ledger was originally designed to support. In the early days, Schwartz frequently highlighted XRP’s role in bridging fiat currencies for real‑time settlement, a concept that has attracted attention from banks, fintechs, and institutional investors worldwide.

The Rationale Behind the Shift

In the CoinTelegraph article, Schwartz explained that his decision to step back was motivated by a desire to allocate more time to his family and to help Ripple attract new talent at the executive level. “I have been at Ripple for more than 20 years, and the company has grown into a multi‑national entity,” Schwartz said in a LinkedIn post that was linked to in the CoinTelegraph piece. “I believe that bringing fresh perspectives into the day‑to‑day operations will help us continue to innovate and accelerate our growth.”

Schwartz also noted that he will concentrate on “strategic initiatives, emerging markets, and technology partnerships,” indicating that his future involvement will be more advisory in nature. He added that the company’s current leadership team, headed by CEO Brad Garlinghouse, is well‑positioned to manage Ripple’s operations going forward.

Ripple’s Legal and Regulatory Context

A key backdrop to Schwartz’s announcement is Ripple’s ongoing legal battle with the SEC. In December 2020, the SEC filed a lawsuit alleging that Ripple’s sale of XRP constituted the sale of an unregistered security. The suit has stalled on many fronts and has caused considerable volatility in XRP’s price, but Ripple has consistently maintained that XRP is a “digital asset” rather than a security.

The CoinTelegraph article, which also linked to the SEC filing, highlighted that the lawsuit’s outcome will remain a “major uncertainty” for the company. Ripple’s management has repeatedly stated that the legal dispute does not impact its day‑to‑day operations or its broader business strategy. Indeed, the company’s recent announcements about expanding into new regions—such as launching XRP‑based services in Southeast Asia and partnering with traditional banks in Europe—underscore its resilience.

The Impact on XRP and Ripple’s Market Perception

While Schwartz’s departure from operational duties was framed as a normal succession plan, market observers were quick to assess its potential influence on XRP’s valuation. According to a CoinTelegraph analysis piece linked in the original article, the token’s price moved only marginally in the immediate aftermath, suggesting that the market viewed the change as a routine leadership transition rather than a crisis. Analyst commentary on the CoinDesk forum echoed this sentiment, noting that Ripple’s long‑term value proposition remains largely intact.

Ripple’s Strategic Vision Going Forward

The CoinTelegraph article further elaborated on Ripple’s strategic priorities, which remain largely unchanged despite the leadership shift. Ripple continues to pursue its “digital‑asset‑based payments network” model, which relies on XRP’s liquidity to reduce settlement times from days to seconds. The company is also investing in the RippleNet platform, a global payment network that leverages blockchain to connect banks, payment service providers, and corporates.

In a recent press release—linked to in the CoinTelegraph story—Ripple announced a partnership with a major Southeast Asian bank to pilot XRP‑based cross‑border payments. The partnership underscores the company’s focus on expanding its footprint in emerging markets, a priority that Schwartz is set to champion in his advisory capacity.

Looking Ahead

David Schwartz’s decision to step back from daily operations marks the first major change in Ripple’s executive structure since its founding. While the company’s core mission to transform global payments remains steadfast, the shift signals an intention to bring in new leadership talent and to re‑allocate Schwartz’s expertise to high‑level strategy and partnership development.

The ripple effect—pun intended—of this transition will likely be most visible in how Ripple navigates the SEC lawsuit and in its ability to sustain growth amid a rapidly evolving regulatory environment. For now, the company’s investors and stakeholders appear to view the change as a prudent step toward ensuring operational resilience and long‑term value creation.

Sources referenced: CoinTelegraph article “Ripple co‑founder David Schwartz stepping back,” Ripple’s SEC lawsuit filing, Ripple’s official press release on Southeast Asian partnership, LinkedIn post by David Schwartz.