LIVE💥Ripple CTO Drops Bombshell Statement on XRP Sales! Could this be the Death Knell for XRP?😕
Ripple's CTO, David Schwartz, recently stirred up discussions by stating that holding onto XRP without selling it is "nearly impossible." He highlighted the complex nature of managing XRP holdings, especially when it comes to tax obligations.
Schwartz used his own example, explaining how receiving a bonus of 1,000,000 XRP from Ripple would require selling about half of it to cover taxes. With federal and California state taxes factored in, his tax rate stands at around 50%.
These remarks came following Dev Null Productions' decision to exit the XRP ecosystem after six years of active involvement. The departure was prompted by concerns over Ripple's leadership and its selling of XRP, which was perceived to disadvantage retail investors. Criticism was also directed at the XRPL Foundation for prioritizing personal agendas over community interests.
Schwartz's comments have ignited a debate about the practical challenges individuals face when dealing with XRP holdings, shedding light on broader issues within the ecosystem.
