Ripples CTO Denies Rumors of 10 Billion XRP Buyback, XRP Community Calls Out Fake News

By Lola Coin Jun 25, 202375Views

Ripple’s CTO, David Schwartz, has responded to rumors that the company planned to buy back 10 billion XRP tokens, denying any knowledge of such a purchase and stating that no official source had been cited. XRP-friendly lawyer John Deaton also expressed skepticism and called for an official confirmation. The XRP community investigated the news source and found it lacking credibility, with a website registered in 2023 and stock photos used for team members. The founder of DigitalGen Financial Services labeled the report as untrue and a scam. Ripple has a history of XRP buybacks, spending almost $8.4 billion between 2021 and 2022. XRP is currently trading at $0.4917, with a slight increase in the last 24 hours. The price of XRP has improved since the controversial documents linked to its former official, Bill Hinman, were released by the US SEC.

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