Ripple Chief Technology Officer to Step Back, Join Board

David Schwartz, a significant figure in the cryptocurrency industry, has announced he will reduce his responsibilities at Ripple Labs after 13 years with the company. Schwartz plans to step back from his day-to-day duties as Chief Technology Officer at the end of the year, opting to spend more time with family and revisit hobbies. He will remain with the company as Chief Technology Officer Emeritus and will join the board of directors. Ripple CEO Brad Garlinghouse praised Schwartz as a pioneer in crypto. Following the announcement, XRP's market price rose approximately 1.4%. Schwartz's departure marks a pivotal moment for Ripple, a major player in the cryptocurrency space, particularly as it navigates its role in the U.S. market and the regulatory landscape, especially after its recent legal challenges with the SEC.

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