Ripple CTO Loses $350k Trading altcoins


November 11, 2020 12:14 pm

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David Schwartz, Chief Technology Officer, Ripple has stated that he has lost more than $300,000 investing in altcoins. According to a post on Quora, the CTO was found answering a question “Have you lost money trading in bitcoin and any other cryptocurrencies?” Schwartz joined the conversation and said that he had made a few crypto investments that he “ultimately had to write off as worthless.”

David added: 

“I’ve bought quite a few cryptocurrencies that turned out to be disasters, my total losses, just on tokens that became completely worthless, is just over $300,000.”

Schwartz mentioned 11 tokens in specific that turned out to be bad investments for him. The list includes Blocktix (TIX), DICE, Flash (FLASH), Vezt (VEZT), Amp (AMP), Signal Token (SIG), Bee (BEE), Kind Ads Token (KIND), Pryze (PRYZ), KudosCoin (KUDOS), and Neuron (NRN). 

Earlier this year, Ripple sued YouTube over failure to stop XRP scam videos. Through an official blog post Ripple and Garlinghouse announced:

“Today, we are taking legal action against YouTube to prompt an industry-wide-behavior change and set the expectation of accountability.”

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