David Schwartz, a former chief technology officer at Ripple, says reports that he admitted to setting aside XRP for certain investors are false.
The claim was refuted after a post on X (formerly Twitter) falsely credited Schwartz with confirming it, leading to criticism from the XRP community and further discussion about the spread of false information online.
What Sparked the Controversy
According to reports, Schwartz has verified the existence of pre-arranged contracts for XRP. Most of the XRP held in Ripple’s escrow accounts has already been assigned to recipients whose identities haven’t been revealed.
The claim spread quickly, drawing attention from both supporters and critics.
However, David Schwartz, Ripple CTO emeritus, shut down the claim, noting that he never said that.
You are correct. I absolutely never said that.
— David ‘JoelKatz’ Schwartz (@JoelKatz) March 27, 2026
His answer was completely clear and direct, and it contradicted everything he’d said or written before.
A Broader Pattern of Misinformation
This wasn’t an isolated event; numerous large XRP accounts have a history of sharing inaccurate information.
“Stuff like this happens daily, each time a different liar,” one user highlighted.
This situation is similar to past events within the XRP community. Back in January 2026, a misleading message accompanying Ripple’s regular release of XRP from escrow falsely stated that the company had sold over $8 billion worth of XRP in 2025.
The note, which could be added to any payment release, was first thought to be an official announcement from Ripple.
I’ve noticed a recurring issue with how information about Ripple and XRP is presented, and I’ve seen it firsthand. Just recently, I publicly refuted claims that Ripple provides institutional investors with discounted XRP. It’s important to set the record straight on these kinds of misrepresentations.
He’s also defended Ripple against claims that selling XRP unfairly favors company shareholders instead of those who own the XRP tokens.
Why False Attribution Matters
The claim about pre-allocated contracts was especially significant because it came from David Schwartz. As a co-creator of the XRP Ledger and a highly respected figure in the XRP community, his statements are widely trusted.
Creating a fake statement from him would wrongly support a story that could affect how everyday investors understand how much XRP is available.
Since 2017, Ripple has been using a secure system to release up to 1 billion XRP each month. This system uses time-locked contracts, meaning the XRP is held safely and automatically released at specific times.
Schwartz has mentioned it might be possible to sell future XRP releases without changing when they become available, but he hasn’t said anyone is currently doing so through contracts.
The recent increase in new owners has exposed more people to false or unconfirmed information spreading online.
Now that Jack Dorsey has publicly denied the allegations, my research is focusing on how platforms themselves, or the online communities using them, can stop false claims from spreading and influencing the market. I’m particularly interested in whether self-policing efforts can be effective before these fabricated stories take hold.
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2026-03-27 12:52