Ethereum

David

<p>David Schwartz, the Chief Technical Officer of Ripple, recently revealed that he bought 40,000 ETH during Ethereum’s ICO in 2014. This crypto investment, made to support Vitalik Buterin, is now worth over 120 million dollars.</p> 
<h2 id="h-a-bold-bet-motivated-by-friendship-with-buterin">A bold bet motivated by friendship with Buterin</h2> 
<p>This revelation has sent shockwaves through the <a href="https://www.cointribune.com/en/crypto-altcoins-in-free-fall-heightened-dependence-on-bitcoin/" target="_blank" rel="noreferrer noopener">crypto sphere</a>. Personally invited by Vitalik Buterin to participate in Ethereum’s pre-sale, Schwartz invested 20 BTC without hesitation, driven by his desire to support his friend’s project. A daring bet that allowed him to acquire 40,000 ETH.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1"> 
 </div> 
</div> 
<p>In an ironic twist of fate, the Chief Technical Officer <a href="https://u.today/ripple-cto-reveals-how-he-bought-40000-eth-during-ethereum-ico" target="_blank" rel="noreferrer noopener">confessed</a> he liquidated all his Ethers as soon as the price reached one dollar, to purchase solar panels. A decision he regrets today, with ETH trading around 3,000 dollars.</p> 
<p>His initial investment of 40,000 ETH would now be worth more than 120 million dollars. Even the initial 20 bitcoins are now worth 1.3 million dollars, enough for much more substantial acquisitions.</p> 
<div class="affiliate-button"> <a class="affiliate-button__link" href="https://bitpanda.pxf.io/c/2801338/1295465/15871" target="_blank" rel="noreferrer noopener">Discover the Bitpanda platform</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noreferrer noopener">This link uses an affiliate program.</a> 
</div> 
<h2 id="h-close-yet-tumultuous-ties-between-ripple-and-ethereum">Close yet tumultuous ties between Ripple and Ethereum</h2> 
<p>This anecdote highlights the intertwined history of Ripple and Ethereum. <a href="https://www.cointribune.com/en/crypto-vitalik-buterin-reveals-security-secrets-for-your-wallets/" target="_blank" rel="noreferrer noopener">Vitalik Buterin</a> was in fact employed by Ripple before creating Ethereum, but had to leave the company due to visa issues.</p> 
<p>Since then, the relationship has deteriorated, particularly with the <a href="https://www.cointribune.com/en/crypto-ripple-vs-sec-the-final-clash-before-the-long-awaited-verdict/" target="_blank" rel="noreferrer noopener">legal battle</a> between Ripple and the SEC. Buterin has openly criticized Ripple, fearing a negative impact on Ethereum’s regulatory status. Despite these tensions, Schwartz’s early investment reflects the initial connections between the two projects.</p> 
<p>In conclusion, this story underscores the critical importance of early investments in <a href="https://www.cointribune.com/petites-cryptos-laquelle-a-le-plus-fort-potentiel-en-2024/" target="_blank" rel="noreferrer noopener">cryptos with high potential</a>. Indeed, liquidating too early can mean missing out on significant gains, but David Schwartz’s foresight allowed him to support a pioneering project from its infancy, thus forging an indelible connection between Ripple and Ethereum.</p>

Crypto: Shocking revelations from Ripple’s CTO about the purchase of 40,000 ETH

Table of Contents

Cointribune EN

Další články publikované 11. 5. 2024

Expert Trader Predicts 1500% Jump for Viral Solana Meme Coin in May 2024

Spot Ethereum ETF: SEC Meetings Could Shift Approval Odds

MAGA Price Prediction: TRUMP Is The Top Meme Coin Gainer With 18% Pump, But Might This AI Meme Co...

JPMorgan Reports $760K Spot Bitcoin ETF Holdings Even As CEO Jamie Dimon Called For Shutting Down...

Crypto Analysts Forecast XRP Rally: Price Predictions of $3 to $20 in Bull Season

Gemini AI Finds a New Home in the Google Apps’s Settings Menu

Join our free newsletter for daily crypto updates!