Ripple CTO states company will put its own interests first, hints at right to sell XRP to raise working capital

On 5 March, Cointelegraph reported that Ripple CTO David ‘JoelKatz’ Schwartz recently stated on social media that ‘Ripple can, will, and should act in its own self-interest. Investors should not expect Ripple to act in a way that benefits investors at the expense of the company and its shareholders.’ Suggesting that Ripple has the right to sell XRP tokens to raise working capital has raised concerns among cryptocurrency investors.

The comments came in response to criticism from Pierre Rochard, vice president of research at Riot Platforms, who warned investors that they ‘are not investing in Ripple, but are simply getting tokens created out of thin air. xRP is not a security because Ripple doesn't actually owe you “utility” or anything else. ' or anything else.’

In previous news, ZachXBT disclosed on his personal channel that Ripple co-founder Chris Larsen still holds more than 2.7 billion XRP, or about $7.18 billion.