Treating meme currency as an investment is distasteful, said David Schwartz, Ripple’s chief technology officer emeritus. The Ripple veteran ignored XRP holders who urged him to endorse the FUZZY token on the XRP Ledger.
Schwartz, known on X as JoelKatz, made the statement during a weekend exchange about FUZZY. The meme coin refers to the Ripple wallet that was activated when XRP Ledger It was launched in 2013.
Schwartz backs down from vague endorsement pressure
The conversation began after Schwartz opened a technical line of trust for FUZZY. Some community members read the move as a quiet signal of approval.
The token name refers to the historical Fuzzybear wallet. That wallet placed a popular trade of 1 XRP for 1 Bitcoin In the early days of the ledger.
Schwartz rejected this explanation. He told his followers that opening a trust line is a routine step on the network. It is not a vote of confidence in any specific project. He added that he has no direct relationship with FUZZY and knows no more about it than any other observer.
The undulation veteran He also explained why he avoids public endorsement even when nothing negative about the project appears. He said the risk of inadvertently promoting bad actors makes him cautious. He also stressed that he had no reason to think poorly of FUZZY itself.
Meme Coin Doubts Intersect with XRP Ledger Token Rally
His comments arrive as Coin meme scene on XRP Ledger It continues to attract retail attention. Tokens like ARMY, PHNIX, and RIPPY have made sharp gains over the past few months. This activity has led to increased trading on platforms such as First Ledger and Magnetic.
Other users argued that meme coins lack intrinsic value and are only traded in the hope of receiving a higher bidder. Schwartz agreed. He said that attempts to build a serious wallet around such tokens seem ridiculous. He added that coins themselves still have a place in internet culture.
Doubts go hand in hand with how Schwartz has bankrolled his fortune And Ripple’s broader position. He draws a line between community tokens designed for fun and assets that warrant serious central sizing.
The post sparked sharp reactions from XRP supporters. Some have argued that the currency liquidity associated with XRP supports the broader ecosystem regardless of their personal viewpoint. Others backed his caution and asked influential people to stop pressuring developers for public approvals.
this post Ripple’s former CTO talks about Meme coins as an investment appeared first on BeInCrypto.
