Key Takeaways
- David Schwartz is leaving his role as CTO at the end of the year but will remain involved with Ripple by joining the company’s board of directors.
- Schwartz cited a desire to spend more time with family and return to personal hobbies after over 13 years at the company.
- The departure, following Ripple’s stablecoin launch and a major legal settlement, marks the end of a chapter, but his guidance continues as a board member, retaining his deep knowledge within the company.
David Schwartz, a pivotal figure and the Chief Technology Officer of Ripple, has announced he will step down from his executive role by the end of the year.
Schwartz was instrumental in coding the XRP Ledger (XRPL), the decentralized blockchain associated with Ripple. His tenure spanned over 13 years, with seven of those as CTO.
David Schwartz’s Legacy At Ripple
Schwartz’s time at Ripple was marked by several critical developments for the firm, including the late-2024 launch of a stablecoin. Ripple CEO Brad Garlinghouse lauded Schwartz as a “true OG in crypto.”
Schwartz’s technical expertise was central to the creation and evolution of the XRPL, which underpins Ripple’s global payments system. His contributions positioned him as one of the most recognized figures in the crypto space.
Why The Change Now?
In his announcement on X, Schwartz conveyed his eagerness to shift his focus to personal life, stating he is “really looking forward to spending more time with the kids and grandkids and going back to the hobbies I set aside.”
This decision comes after years of intensive work, including guiding Ripple through its prolonged legal battles with U.S. regulators, which recently concluded in a court settlement.
The Role of CTO Emeritus and Board Member
While stepping away from the day-to-day operational demands of the CTO role, Schwartz is not severing ties with Ripple completely. He revealed he will join the company’s board of directors and occasionally stop by the office, ensuring his deep crypto wisdom continues to inform Ripple’s strategic direction.
This move, along with his new position as CTO Emeritus, signals a balanced transition that honors his legacy while allowing him personal freedom. Garlinghouse confirmed their regular check-ins would continue.
Final Thoughts
David Schwartz’s transition from CTO to a board member is a measured step for both him and Ripple. It allows a pioneer in the industry to embrace personal priorities while retaining his critical guidance for the company’s future, ensuring the continuity of his vision for the XRP Ledger and the broader Ripple ecosystem.
Frequently Asked Questions
What is David Schwartz’s new role at Ripple?
He is joining Ripple’s board of directors and will also hold the title of CTO Emeritus, continuing to provide guidance.
Why is David Schwartz leaving the CTO position?
Schwartz is stepping down to spend more time with his family and pursue personal hobbies.
Will David Schwartz still be involved with the XRP community?
Yes, he has explicitly stated he will not be leaving the XRP community and will remain actively involved.
