Over the weekend, one crypto enthusiast under the Twitter handle of @hlnoooo has claimed that Chief Technology Officer, David Schwartz has sold a stack of his .
He claims that this should be the biggest warning sign for the XRP community. He also claimed that Schartz wasn’t alone in all of this though because another employee at Ripple was selling his XRP over the past few days.
Warning to all holders.
CTO recently selling his stack is the biggest warning sign one could ever get. This is the most bearish sign for I have ever witnessed since beginning of ’17.
I recommend everyone to get OUT NOW
— Hlnoooo (@hlnoooo)
He went on to mention an old tweet by Schartz, where the CTO spoke about the ‘de-risking strategy’ he and his wife came up during the last bull-run.
You can see Schwartz’ tweet from over a year ago hear:
I hold some XRP that I bought on the open market over the years as well as other similar assets. When I first chose to put money in, I agreed on a de-risking strategy with my wife should we ever have too much at risk, which I’ve been following with some sadness.
— David Schwartz (@JoelKatz)
@hlnoooo has shared the wallets that have been moving these assets, both David Schwartz’s and Employee XRP Wallet.
The Twitter user claims that these wallets started to move these digital assets at the time when the US Securities and Exchange Commission published the “Framework for Analysis of Digital Assets.”
In fact, as reported by he actually shared one of the fragments of this framework by saying:
“Most digital assets (among those existing as of now, in early 2019) will be classified as securities. Asset transferability and the managerial / development work done by core stakeholders will mean this.”
Published at Wed, 24 Apr 2019 13:03:31 +0000