TLDR
- Schwartz said traders should sell XRP when it serves their own financial needs and plans.
- He rejected claims that selling tokens carries less moral value than buying them outright today.
- The Ripple CTO also raised questions about FUZZY token value, basis, and AMM deposit taxes.
- Garlinghouse said he supports Bitcoin success and does not see crypto as one chain only.
- CryptoQuant data cited in the report showed lower Binance XRP reserves during weak price periods.
Schwartz said every market participant had the same chance to buy and sell XRP as he did. He also compared his XRP choices with his past activity in Bitcoin and ETH. “Everyone had the same opportunity to buy and sell XRP that I did,” he said.
The Ripple CTO rejected the idea that selling carries less value than buying. “I utterly reject the idea that selling is somehow morally inferior to buying,” Schwartz said. He added that traders should act in their own financial interest.
Schwartz said he has supported selling when it fits a person’s own needs. “I’ve never argued people should sacrifice their own financial benefit for that of others,” he said. He linked that view to ideas that drew him toward the early Bitcoin community.
His comments followed debate among XRP users about sales by insiders and holders. Schwartz did not tell holders to buy or sell at any set price. Instead, he defended personal choice in open markets.
FUZZY Tokens Raise Tax Questions for Schwartz
Schwartz also shared questions about taxes tied to FUZZY tokens and AMM activity. He said the issues show why he no longer handles his own taxes. His post focused on basis, value, and timing for taxable events.
He asked whether FUZZY tokens counted as a gift or business income. He also questioned how to set a basis for those tokens. The same post raised questions about XRP moved into an automated market maker.
Schwartz asked whether deposits should use the value of sent tokens or received LP tokens. He also asked whether he must use FIFO for the XRP he gave up. FIFO means the earliest bought tokens get treated as sold first.
Valuation became another concern in his post. Schwartz asked how LP tokens should be priced when a trade moves the market. He also asked whether hard-to-price tokens could delay gains until liquid assets return.
Garlinghouse Backs Multi-Chain View and Crypto Rules
Ripple CEO Brad Garlinghouse also addressed the broader market during a recent Consensus appearance. He said he does not view XRP as the only needed network. “I’ve never been an XRP maxi,” Garlinghouse said.
Garlinghouse also said he wants Bitcoin to succeed. “It’s not gonna be a one-chain world,” he said. “It’s gonna be a multi-chain world.” His comments followed debate between Ripple supporters and Bitcoin users.
The Ripple CEO also spoke about the CLARITY Act. He said the bill is not perfect, but he called clear rules better than uncertainty. “Clarity is better than chaos,” Garlinghouse said during the discussion.
The market backdrop also drew attention in the report. CryptoQuant data cited there showed Binance XRP reserves falling during weak prices. The same report cited $81.59 million in April spot XRP ETF inflows.
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