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 is a blockchain architect, and cryptographer, and is the Chief Technology Officer (CTO) and Chief Cryptographer at Ripple and a a board member and consultant at PolySign, which provides infrastructure for digital assets.   Quick Facts   Name David Schwartz Birth 1970, United States Nationality American Education Electrical Engineering from the University of Houston, Texas. Marital status married to Tracey Schwartz Net worth Estimated at $1 billion (to be verified)   He is one of the key architects behind XRP Ledger (XRPL). XRPL is known for its high-speed transactions and low energy consumption compared to Proof-of-Work (PoW) blockchains. Before joining Ripple, Schwartz worked as a software engineer and cryptography expert, contributing to protected messaging and distributed methods.   David Schwartz - Career Highlights   1991 – Developed secure messaging and cryptographic systems for government and private sectors. 2011 – Co-founded OpenCoin, which later became Ripple, focusing on global payments. 2012 – Helped create the XRP Ledger (XRPL), pioneering a fast, scalable, and energy-efficient blockchain. 2018 – Became CTO of Ripple, overseeing technical innovations and blockchain research. 2021-Present – Continues leading Ripple’s expansion in cross-border payments and CBDCs, advocating for blockchain adoption in finance.   He consults startups with strategic planning, smart contracts, and consensus mechanisms. He often speaks at major blockchain seminars and engages with the XRP community.   Useful Links to Connect With David Schwartz   Platform Link X (formerly Twitter) https://twitter.com/JoelKatz LinkedIn https://www.linkedin.com/in/david-schwartz-ripple Ripple Website https://ripple.com Youtube https://www.youtube.com/c/Ripple     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.