Ripple CTO David Schwartz recently shared his thoughts on the departure of Gary Gensler from his role as SEC chairman. Gensler’s exit sparked a mix of reactions within the crypto community, with some celebrating his departure as a victory for the industry.
Gary Gensler steps down, Ripple CTO responds
Following a tweet urging unity within the crypto community, a commentator questioned who the new “enemy of crypto” would be now that Gensler had resigned. Schwartz responded by expressing uncertainty about who might emerge as a prominent critic of the industry in the future. He speculated that a figure as influential as Gensler may not surface again.
I don’t think we know right now. Maybe one won’t emerge and we’ll have to attack each other just to not get bored and be too successful.
— David “JoelKatz” Schwartz (@JoelKatz) January 18, 2025
Ripple CLO reflects on Gensler’s departure
Ripple’s chief legal officer, Stuart Alderoty, also weighed in on Gensler’s exit, suggesting that the crypto community may soon forget about the former SEC chairman and his impact on the industry. Alderoty humorously predicted that people would soon respond with “Gary who?” when Gensler’s name was mentioned.
“I’m gonna miss him.”
— Dr. Peter Venkman— David “JoelKatz” Schwartz (@JoelKatz) January 18, 2025
In a playful nod to the Ghostbusters movie, Schwartz quoted the character Dr. Peter Venkman, played by Bill Murray, expressing a sentiment of missing Gensler.
Schwartz sheds light on XRP’s 2018 price surge
Adding to the discussion, Schwartz revealed an interesting detail about XRP’s all-time high price of $3.84 in January 2018. Contrary to popular belief, Schwartz clarified that this price was influenced by a premium added to XRP’s value on South Korean exchanges, rather than reflecting its true market value.
He emphasized that the reported price did not accurately represent the actual trading value of XRP at the time.