Ripple Chief Technology Officer Emeritus David Schwartz said treating a meme coin as an investment feels distasteful. The Ripple veteran brushed aside XRP holders who urged him to endorse the FUZZY token on the XRP Ledger.
Schwartz, known on X as JoelKatz, made the remark during a weekend exchange about FUZZY. The meme coin references a wallet Ripple activated when the XRP Ledger launched in 2013.
Schwartz Pushes Back on FUZZY Endorsement Pressure
The conversation started after Schwartz opened a technical trust line for FUZZY. Some community members read the move as a quiet signal of approval.
The token’s name nods to the historic Fuzzybear wallet. That wallet placed a famous trade of 1 XRP for 1 BTC in the early days of the ledger.
Schwartz rejected that interpretation. He told followers that opening a trust line is a routine network step. It is not a vote of confidence in any specific project. He added that he has no direct involvement with FUZZY and knows no more about it than any other observer.
The Ripple veteran also explained why he avoids public endorsements even when nothing negative surfaces about a project. He said the risk of unintentionally promoting bad actors keeps him cautious. He also stressed he has no reason to think poorly of FUZZY itself.
Meme coin Skepticism Cuts Across XRP Ledger Token Surge
His comments arrive as the meme coin scene on XRP Ledger continues to draw retail attention. Tokens such as ARMY, PHNIX, and RIPPY have posted sharp gains over the past few months. The activity has driven heavier trading on platforms like First Ledger and Magnetic.
Other users argued that meme coins lack intrinsic value and trade purely on the hope of a higher bidder. Schwartz agreed. He said attempts to build a serious portfolio around such tokens look ridiculous. Meme coins themselves still have a place in internet culture, he added.
The skepticism aligns with how Schwartz has framed his wealth and Ripple’s broader posture. He has drawn a line between community tokens built for fun and assets that warrant serious position sizing.
The post drew sharp reactions from XRP supporters. Some argued that meme coin liquidity tied to XRP supports the wider ecosystem regardless of their personal view. Others backed his caution and asked influencers to stop pressuring developers into public endorsements.
