Ripple CTO Clarifies Rumors About 10B XRP Buyback
The cryptocurrency world has been buzzing with rumors about Ripple conducting a massive buyback of its XRP token worth 10 billion dollars. The speculation was fueled by a tweet from the company’s CTO, David Schwartz, who said that Ripple had “considered a buyback of XRP.” In response to the rumors, Schwartz has now issued a clarification on the matter.
Ripple CTO Addresses Speculation Surrounding XRP Buyback
In a tweet, Schwartz stated that the buyback is not imminent and would not be happening in the near future. He added that there was no guarantee that Ripple would ever go through with the buyback, and that the decision would depend on a number of factors, including market conditions and the company’s financial position.
Schwartz also acknowledged that the rumors had caused some confusion and uncertainty among XRP holders and investors. He urged people to exercise caution and not to make any investment decisions based on rumors or speculation.
Clarification on 10B XRP Buyback Plan from Ripple CTO
Schwartz also clarified that the 10 billion dollar figure being reported in the media was based on a hypothetical scenario and did not reflect any actual plan or commitment on Ripple’s part. He said that the company had not yet decided on the amount of XRP it would buy back, if any.
The purpose of the buyback, according to Schwartz, would be to support the development of the XRP ecosystem and to create more utility for the token. He emphasized that any buyback would be done in a responsible and transparent manner, with the aim of promoting the long-term growth and stability of the XRP market.