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XRP Ledger Co-Creator's $1.7M Tax Bill Reveals Crypto Strategy

9 Nov

Summary

Schwartz paid $1.7 million in capital gains tax on XRP sales.
He sold most XRP from bonuses, starting profits at $0.10.
He moved savings to illiquid Ripple stock for stability.

XRP Ledger co-creator David Schwartz addressed speculation about his XRP holdings by disclosing a $1.7 million capital gains tax payment. This payment was associated with the sale of approximately 2.5 million XRP tokens between 2024 and 2026, primarily sourced from work bonuses. Schwartz admitted to a deep-seated aversion to risk, which led him to sell portions of his XRP holdings as early as when the price reached $0.10. He also revealed selling his entire Ether (ETH) position at $1.05, regretting the missed potential gains.

Schwartz detailed that his peak XRP holdings reached around 26 million tokens, which had diminished to approximately 2 million by August 2026. He explained that he and his wife had a strategy of selling a fixed portion of their assets at each new all-time high to ensure financial security and peace of mind. This risk-averse approach has led him to largely move his personal savings into Ripple stock, providing insulation from cryptocurrency market volatility.

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