• Written by: Abdulkarim Abdulwahab
  • Mon, 26 Jun 2023
  •   United States

Ripple CTO and prominent figures in the XRP community have argued against the report of a 10 billion XRP buyback, questioning the source’s credibility. In response to recent claims of Ripple planning a massive 10 billion XRP buyback, Ripple’s Chief Technology Officer (CTO), David Schwartz, has denied the report. Schwartz stated on Twitter that Ripple […] The post Ripple CTO, Deaton Deny Claims of Ripple Buying Back 10 Billion XRP Worth $5B first appeared on The Crypto Basic.

Ripple CTO, Deaton Deny Claims of Ripple Buying Back 10 Billion XRP Worth $5B

Ripple CTO and prominent figures in the XRP community have argued against the report of a 10 billion XRP buyback, questioning the source’s credibility.

In response to recent claims of Ripple planning a massive 10 billion XRP buyback, Ripple’s Chief Technology Officer (CTO), David Schwartz, has denied the report. Schwartz stated on Twitter that Ripple had no official confirmation, questioning the source’s credibility.

Notably, the Ripple CTO’s comment replied to a tweet by pro-XRP lawyer John Deaton who first expressed skepticism on Twitter regarding the purported XRP repurchase. 

“I don’t believe Ripple is buying back 10B XRP until I hear it from Ripple,”  the lawyer  remarked . 

Ripple Has No $5b to Buy 10B XRP

Deaton’s doubts triggered further inquiries into the matter as concerns within the crypto community continued to mount.

 

Another prominent lawyer Bill Morgan questioned the financial feasibility of such a massive buyback. 

Morgan raised concerns about the availability of $5 billion required for the purchase, given Ripple’s  ongoing legal battles

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