David Schwartz, the Ripple CTO and co-founder of the XRP Ledger, has penned a post that feels like a melancholic ode to the crypto movement’s lost innocence. 🎻 He reminisces about the early days, when crypto was a wild, untamed beast, and contrasts it with the tamed, domesticated creature it has become. 🐾
In a twist that could rival a spy novel, Schwartz casually dropped that he once worked for the US National Security Agency (NSA). Yes, the very organization that early crypto enthusiasts would have considered the villain in their libertarian fairy tale. 🕵️♂️
Ripple CTO’s Crypto Lament
Schwartz tweeted, with a hint of sadness, that the crypto movement “now looks less libertarian than it ever has.” 🥺 He didn’t elaborate, but one can’t help but wonder if he’s referring to the recent X post by Ripple CEO Brad Garlinghouse, who criticized crypto maximalism with the subtlety of a sledgehammer. 🛠️
The crypto movement now looks less libertarian than it ever has, and that makes me a little sad.
— David “JoelKatz” Schwartz (@JoelKatz) January 28, 2025
Garlinghouse, in his post, suggested that if the US ever creates a crypto reserve, it should include not just Bitcoin but also Ethereum and XRP. He warned that if crypto communities continue to tear each other down, it will be a “zero-sum game.” 🎮
Schwartz’s Institutional Crypto Love Affair
Schwartz admitted, “Maybe it hasn’t been very libertarian for a long time, but it definitely was very libertarian once.” 🕰️ When a commentator pointed out that Wall Street’s interest in crypto might be a factor, Schwartz countered that there’s “nothing anti-libertarian about wanting enterprises and institutions to adopt crypto.” He added, “If it’s instead of government-backed fiat, that’s perfectly consistent with libertarian values.” 💼
This nothing anti-libertarian about wanting enterprises and institutions to adopt crypto. If it’s instead of government-backed fiat, that’s perfectly consistent with libertarian values.
— David “JoelKatz” Schwartz (@JoelKatz) January 28, 2025
In a final twist, Schwartz revealed that before he became a crypto pioneer, he worked for the NSA in 2001. He clarified that he left before it “screwed up.” 🕶️ This revelation adds a layer of irony to his story, as the NSA is the antithesis of the libertarian ideals that once fueled the crypto movement. 🎭
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2025-01-28 12:11