Ripple CTO Recalls SEC Lawsuit Shock: ‘A Lot of People Thought It Was Over’

At the ONDO Finance Summit 2025, Ripple’s Chief Technology Officer (CTO), david schwartz david schwartz David Schwartz, also known as JoelKatz, serves as the Chief Technology Officer at Ripple, Founded in 2012 by Chris Larsen, Arthur Britto, and Jed McCaleb with a headcount of 1,120 it focuses on providing global financial institutions, businesses, governments, and developers the ability to manage, move, and tokenize value through blockchain technology. David Schwartz is an expert in software development, cryptography, and computer security, especially for startups as well as rapidly evolving, and is a native of San Francisco, California. David is one of the original architects, including Arthur Britto and Jed McCaleb, who was inspired by Bitcoin to create the XRP Ledger, it is a decentralized open blockchain founded in the year 2013. Before joining Ripple, he served as the Chief Technical Officer at WebMaster Incorporated, a Santa Clara software developer. David has designed enterprise messaging systems and encrypted cloud storage solutions for organizations such as CNN and the National Security Agency. The estimated Net Worth of Ripple is $69 Million Personal Details: Born: Nov 16, 1969, New YorkOrganization: Ripple and XRPLocation: United StatesGraduation: David earned a Bachelor’s Degree in Electrical Engineering from the University of Houston in Texas, U.S Experience: CTO at Ripple from Jul 2018 - Present Chief Cryptographer from Jul 2018-Present David served as the Chief Technical Officer at WebMaster Incorporated from Jan 2001 - Jan 2011 Schwartz served as Director of Software Development at WebMaster Incorporated from Jan 1998 - Jan 2001 Schwartz served as Senior Network Engineer at Worldwide Internet Solutions from Jan 1996 - Jan 1998 David served as the Director of Network Services at Internet Gateway Connections from Jan 1995 - Jan 1996  David was also the Partner at Cardiophonics from Jan 1992 - Jan 1995  David is a known Top Blockchain Speaker to attends Blockchain events to be a part of growing blockchain technology   Developer/ProgrammerCrypto and Blockchain Expert shared his thoughts on the future of Ripple, the broader cryptocurrency space, and the company’s ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). Talking to CoinDesk, Schwartz opened up about the importance of institutional adoption in the blockchain and cryptocurrency industries, citing it as a key factor for mass retail adoption in the future.

Schwartz began by reflecting on Ripple’s journey, noting the ups and downs the company has faced over the years. He said that while many in the industry once believed retail adoption would be the driving force behind blockchain’s widespread use, it is now clear that institutional adoption is a prerequisite for achieving mainstream success.

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Ripple’s Resilience and Recent Wins

Schwartz acknowledged the challenges Ripple has faced, especially in the wake of the SEC’s lawsuit.

“Four years ago, we had what I called the worst Christmas ever when I found out that the SEC was suing us and a lot of people thought that would be the end of business,” he said.

Despite the setback, Schwartz pointed to Ripple’s resilience and the company’s recent successes, particularly with XRP, which has been one of the top-performing cryptocurrencies in recent months. He explained how the changing regulatory landscape in the U.S. has helped unlock new business opportunities both domestically and internationally.

He further said that the change in the regulatory environment in the United States has had a ripple effect globally. Countries that typically take regulatory cues from the U.S. are now more open to fostering innovation, creating a more competitive international landscape for blockchain technology and cryptocurrency.

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