According to U.Today, David Schwartz, the Chief Technology Officer (CTO) of Ripple and a co-founder of the XRP Ledger, has announced his upcoming appearance at the annual Consensus2024 event. Schwartz plans to discuss Ripple's vision and roadmap for institutional DeFi on the XRP Ledger. He will be joined by Phil Kwok, a co-founder of the EasyA app, for the discussion. However, no further details about the talk were shared.
Institutional DeFi, the next iteration of decentralized finance, is aimed at financial institutions. It combines the innovations of average DeFi protocols with the stability and safeguards of the traditional finance industry. A report by J.P. Morgan stated that it has 'the potential for growth and transformative impact.' DeFi primarily allows users to stake their crypto or lend them to other users or enterprises in exchange for regular profits on their cryptocurrencies locked in a DeFi contract.
Schwartz also recently clarified the size of his crypto holdings, stating that at his peak, he held approximately 26 million XRP. He admitted to selling Bitcoin to buy more XRP and Ethereum, but emphasized that he has never sold any XRP to buy any other crypto, except for 'some unusual purposes.' This statement put an end to speculation within the community about whether he had sold any XRP. Large crypto sales by prominent figures in the industry can sometimes impact the market.
