Ripple CTO Claps Back at Custodia Bank CEO’s XRP Critique – Here’s Why It Matters

Ripple's Chief Technology Officer fires back after Custodia Bank's CEO takes shots at XRP's utility. The crypto community leans in.

Behind the feud: A brewing battle over blockchain's role in traditional finance.

Why XRP defenders are fired up: Institutional adoption versus purist decentralization—the debate that won't die.

The finance jab you expected: Bankers criticizing crypto is like Blockbuster mocking Netflix—we know how that ended.

XRPL Validator Responds to ICO and Centralization Claims

Schwartz responded on August 7, stating he’s available “whenever” Long wants to discuss the topic directly. He also referred to a detailed rebuttal from prominent XRP Ledger validator, VET (@Vet_X0).

@CaitlinLong_, I’m available whenever you want to chat about the facts about Ripple, our stablecoin RLUSD, the XRP Ledger and its native token XRP. @Vet_X0 started with some basic ones above ^

Vet argued that Ripple never held an initial coin offering (ICO). Instead, XRP had no value when it launched, and the full supply of 100 billion tokens was issued in the Genesis ledger account. He also disputed claims that the XRP Ledger is centralized, noting it runs over 1,000 nodes and 100 independent validators.

Vet confirmed that RLUSD, Ripple’s U.S. dollar-pegged stablecoin, is issued on both Ethereum and the XRP Ledger. He said Ripple continues to build on its own decentralized infrastructure, including a native decentralized exchange and ongoing feature upgrades.

Schwartz concluded by inviting Long for further discussion to clarify misconceptions about Ripple’s technology and roadmap.

Also Read: 42 Banks Oppose Ripple’s U.S. Bank License Application