David Schwartz, a prominent figure in the cryptocurrency world and a co-creator of the XRP Ledger, has announced his departure as Chief Technology Officer of Ripple at the end of 2025, concluding a remarkable 13-year tenure. Known in the crypto community as “JoelKatz,” Schwartz shared the news in a post on X. His exit comes shortly after Ripple’s significant legal victory against the SEC, a milestone that concluded a lengthy five-year legal struggle.
In his announcement, Schwartz shared reflections on his career, which includes consulting for the U.S. National Security Agency and contributing to the development of Bitcoin in its early stages. Highlighting the importance of family, he expressed the need to devote more time to loved ones, calling his journey at Ripple “one of the greatest honors and experiences” of his life.
Despite stepping down as CTO, Schwartz will maintain a strong connection to Ripple and the broader XRPL ecosystem. Co-founder Chris Larsen invited him to join Ripple’s board of directors, a role he accepted, and he will hold the title of CTO Emeritus, occasionally returning to the office in a supportive capacity. Schwartz indicated that he plans to focus on hands-on XRPL development and explore new applications for XRP beyond Ripple’s current initiatives.
In his farewell message, Schwartz conveyed gratitude to Ripple’s leadership, including CEO Brad Garlinghouse and President Monica Long, whom he described as “the very soul of Ripple.” He expressed confidence in the next generation of leaders within the company, including the newly appointed SVP of Engineering, Dennis Jarosch.
Schwartz, who is now in his sixties, cited personal reasons for his decision to step back from everyday responsibilities, particularly a desire to spend more time with his family and to revive hobbies he had put on hold. However, he reassured the community that his influence on the XRP Ledger would persist, promising to share updates on his independent projects and expressing excitement about attending XRP community events worldwide.
In a heartfelt response to Schwartz’s announcement, Ripple CEO Garlinghouse commended him as a “true OG in crypto” and a “legend,” expressing gratitude for his immense impact on the industry.
Schwartz’s transition comes at a pivotal time for Ripple, as the company emerges from a protracted legal battle with the SEC, having secured a settlement that alleviates the company from the burden of a $1.3 billion lawsuit. As Ripple forges ahead into a new chapter, Schwartz’s contributions to the firm and the XRP Ledger will undoubtedly leave a lasting legacy.
