Ripple CTO says he lost $300K trading no-name altcoins
“I’ve bought quite a few cryptocurrencies that turned out to be disasters.” David Schwartz, Ripple’s Chief Technology Officer, has revealed he lost more than $300,000 investing in altcoins.According to a Nov. 2 post on Quora asking readers if they had lost any money trading Bitcoin (BTC) and other cryptocurrencies, Schwartz stated that he had made a few crypto investments that he “ultimately had to write off as worthless.”“I’ve bought quite a few cryptocurrencies that turned out to be disasters,” stated the Ripple CTO who is a very frequent Quora contributor.“My total losses, just on....
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Ripple. Ripple is a protocol designed to increase the speed and reduce the costs of international monetary transfers. To protect the network, Ripple users must hold a small amount of the platform's native currency, known as XRP. In addition to preventing abuse and securing the network, XRP serves as a bridge currency between any other currency within Ripple. Recently, the XRP price has surged-doubling its USD value in November alone. Ripple breached the 1 billion USD market cap range, but has since been dumped back to lower levels. Also read: Ripple Labs Cracks U. S. Banking with New Deal.....
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