Former Ripple Chief Technology Officer David Schwartz has disclosed that he sold the vast majority of his cryptocurrency holdings because he has an unusually low tolerance for financial risk, reducing positions that once included millions of XRP tokens, approximately 1,500 Bitcoin and 40,000 Ether.
Schwartz's disclosure, shared by Wu Blockchain, shows how dramatically his personal crypto portfolio has changed. His peak XRP holdings of roughly 26 million tokens have fallen to around 3 million XRP. His Bitcoin position has declined from approximately 1,500 BTC to just 1 BTC, while his Ether holdings have dropped from 40,000 ETH to 6 ETH.
The figures represent substantial reductions across three major cryptocurrencies. Although Schwartz did not provide specific sale dates or the prices at which he disposed of the assets in the reported comments, he directly attributed his decisions to his personal approach to risk.
Schwartz Says He Has Little Appetite for Market Risk
Explaining his decision, Schwartz said he "really, really hates risk." He added that he simply does not have the personal disposition to tolerate heavy market volatility.
His comments suggest that the reductions were driven by risk aversion rather than a stated change in his assessment of XRP, Bitcoin or Ether. The disclosure does not indicate that he sold the assets because of a particular market forecast, regulatory concern or development involving any of the three cryptocurrencies.
Schwartz's explanation also highlights the distinction between professional involvement in the cryptocurrency industry and an individual's willingness to maintain substantial personal exposure to digital assets. Even someone who has held a senior technical position at a major blockchain company may have a conservative approach to managing personal investments.
Holdings Reduced Across XRP, Bitcoin and Ethereum
The largest numerical reduction disclosed was in Bitcoin. Schwartz's holdings fell from around 1,500 BTC to 1 BTC, meaning that almost his entire previously reported position was sold.
His XRP balance also declined sharply, from approximately 26 million XRP at its peak to around 3 million XRP. Meanwhile, his Ether holdings dropped from 40,000 ETH to just 6 ETH.
These figures show that his decision to reduce exposure was not limited to a single cryptocurrency. XRP, BTC and ETH were all affected, with the remaining balances representing only a small portion of the amounts he previously held.
Schwartz did not disclose the total proceeds from the sales or provide a detailed account of when each reduction took place. His stated reason was his strong aversion to risk and inability to comfortably tolerate significant volatility.
Writer: Victoria Hale Technology & Blockchain Writer
Victoria Hale writes about blockchain technology, digital infrastructure, and the intersection of emerging technologies with finance. Her articles explore how new protocols and systems are shaping the evolving digital economy.
She prioritises clarity and accuracy when explaining technical developments to a general audience.
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The articles on Hokanews are here to keep you updated on the latest buzz in crypto, tech, and beyond—but they’re not financial advice. We’re sharing info, trends, and insights, not telling you to buy, sell, or invest. Always do your own homework before making any money moves.
Hokanews isn’t responsible for any losses, gains, or chaos that might happen if you act on what you read here. Investment decisions should come from your own research—and, ideally, guidance from a qualified financial advisor. Remember: crypto and tech move fast, info changes in a blink, and while we aim for accuracy, we can’t promise it’s 100% complete or up-to-date.
