Ripple CTO: “Ripple plans to buy back 10 billion XRP” is a rumor

Golden Finance reports that David Schwartz, Ripple’s chief technology officer (CTO) and one of the original architects of XRP Ledger, responded to recent rumors that Ripple allegedly plans to buy back 10 billion XRP tokens, which is equivalent to 10% of the total supply of the token. 10% is worth US$5 billion at current prices. Schwartz clarified the situation and said that while Ripple was indeed involved in XRP purchases, he was not aware of any specific buyback plans at this time. Furthermore, he emphasized that there are no official sources supporting these rumors.

As previously reported, Ripple-friendly lawyers are skeptical of rumors that Ripple Labs may buy back 10 billion XRP.