According to BlockBeats, Ripple's Chief Technology Officer, David Schwartz, recently expressed support for cryptocurrency company Consensys in a lawsuit filed by the U.S. Securities and Exchange Commission (SEC). Schwartz drew parallels with the luxury diamond company DeBeer, suggesting that the services of MetaMask, a product of Consensys, are not intended for profit.
Schwartz further elaborated on the investment concepts related to MetaMask, adding that the profits of MetaMask are a result of external market conditions and user activity, not the efforts of Consensys. In addition, when comparing tokens and securities, he proposed that 'tokens managed by smart contracts cannot make all token holders a joint enterprise.'