Ripple CTO retires david schwartz I poured cold water again $XRP He has openly stated that he is simply uncomfortable with the very idea of treating meme coins as serious investment vehicles, so members of the community are chasing easy money.
The public rejection was prompted by a suggestion from one of X’s users. Schwartz was repeatedly urged to become the face and chief ambassador of the FUZZY project. On the other hand, he does not want to stifle true community action. On the other hand, he is simply afraid of becoming an unwanted publicity shield for hidden fraudsters who can abuse his authority.
I am uncomfortable with the idea that people consider meme coins to be investments.
— David ‘JoelKatz’ Schwartz (@JoelKatz) May 18, 2026
Schwartz agreed when other participants in the discussion reasonably pointed out that memecoins, by definition, have no intrinsic value and survive purely on “hopium,” or the blind faith that there will always be someone to buy the asset at a higher price. He added that any attempt to build a full-fledged investment portfolio around such tokens looks foolish.
Why wallet activity does not result in Schwartz token approval
The reason why crypto enthusiasts hang on to Schwartz’s every word is due to the recent incident involving the FUZZY meme coin. Earlier this month, the developer opened a technical “trust line” for the token, sparking a full-fledged wave of conspiracy theories. $XRP holder.
This seemed symbolic to fans as the coin’s name references the historic Fuzzy Bear wallet. ripple The team began working in 2013 during the early days of the network’s launch. That wallet once placed a legendary joke order offering an exchange. 1 $XRP per 1BTC. Particularly sensitive investors quickly concluded that Schwartz was directly involved in the project.
Schwartz quickly and firmly shut down those illusions. He explained that adding tokens to the wallet is a purely technical and routine procedure used for network testing and is not a blessing to purchase assets. According to him, he sees FUZZY as nothing more than a funny Internet phenomenon, and only knows about the project as a casual passerby.
For Schwartz, meme coins have a right to exist as part of the internet’s humor and digital subculture. But when people start confusing memes with investing, Ripple veterans react with nothing but professional embarrassment and, admittedly, slight disgust.
