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Ripple's Chief Technology Officer, David Schwartz, has publicly extended an invitation to Custodia Bank CEO Caitlin Long to discuss "XRP facts." This offer comes in response to comments made by Long during a podcast where she raised questions about the origins and integrity of the XRP Ledger (XRPL) and its associated projects. Long's remarks included allegations that Ripple’s past had "all the makings" of an Initial Coin Offering (ICO) and expressed skepticism about the company’s recently announced RLUSD stablecoin. [embed]https://twitter.com/JoelKatz/status/1953165258627137946[/embed]
Dispelling Misinformation on XRP's Origins
In his response on social media, Schwartz addressed Long’s characterization of XRP as a product of an ICO. He pointed to a detailed post by XRPL validator @Vet_X0 that clarified the history. According to the validator, the entire 100 billion XRP supply was created in a genesis account in 2012 without a public sale or capital raise, and thus had no monetary value at the time. This directly counters the ICO claims and differentiates XRP from projects like Ethereum, which conducted a well-documented public ICO.
Clarifying Decentralization and Stablecoin Strategy
Schwartz also sought to correct Long's claims of centralization, emphasizing that the XRPL is an open-source, decentralized blockchain. He noted that anyone can run a validator or fork the code, and that Ripple does not unilaterally control the network. Furthermore, Schwartz clarified Ripple's stablecoin strategy, explaining that the decision to issue RLUSD on both Ethereum and the XRPL is a deliberate multi-chain approach. This is not a sign of distrust in the XRPL but a pragmatic move to enhance liquidity and reach a wider audience across different blockchain ecosystems.