Ripple’s CTO Responds To Rumors Of $5 Billion Buyback Of XRP
David Schwartz talked about the theories about whether or not Ripple would buy back XRP worth $5 billion.
People who use social media to talk about cryptocurrencies have been spreading a rumor that Ripple is going to buy back 10 billion XRP tokens, which are worth just under $5 billion at the moment.
John Deaton, a lawyer who works for thousands of people who own XRP, was the first person to question the stories. He said he won’t believe it until the company says so.
On the other hand, the rumors were disseminating at an alarming rate, which is something that frequently happens in these kinds of situations. The CTO of Ripple, David Schwartz, told them to go away yesterday.
We do sometimes buy XRP. But I don’t know of anything specific that this could be referring to. And there’s no official source mentioned.
We do sometimes buy XRP. But I don't know of anything specific that this could be referring to. And there's no official source mentioned.
— David "JoelKatz" Schwartz (@JoelKatz) June 25, 2023
Despite the reports, XRP hasn’t moved. It has lost 1.4% in the last 24 hours and 1.2% in the last seven days.
