Ripple CTO Baffles XRP Army with Enigmatic X Post: Details

Ripple CTO Baffles XRP Army with Enigmatic X Post: Details

David Schwartz, known as @JoelKatz on platform

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David Schwartz, known as @JoelKatz on platform

The tweet contains only two words, but it has set the XRP army abuzz.

Ripple CTO excites the XRP army with his tweet

Schwartz posted just two words: “You are Estesterdam.” Many commenters were baffled and posted comments about what prompted the CTO to post that tweet.

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However, those who joined the discussion later started writing “I Amsterdam” in response, to show them that it is clear that David Schwartz is currently in the capital of the Netherlands, participating in the annual Apex XRPL 2024 developer summit. .

As Guru-Investingrecently reported, David Schwartz has posted important warnings for the XRP army on his X handle several times. Those posts warned the community not to fall for the scams that have been spreading on the X platform. In one of them , cybercriminals posed as the X support team, accusing X users of violating copyright and stealing their personal data by asking them to fill out a form.

The second warning was related to the recent hacker attack on the Loopring protocol.

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Name of future Ripple stablecoin revealed

During this summit, in one of the key sessions, Ripple CEO Brad Garlinghouse revealed the name of the company’s future stablecoin, which will be backed by the US dollar. The San Francisco-based blockchain giant intends to launch it under the symbol “RLUSD.”

The goal of building this stablecoin on the XRP Ledger is to provide additional utility and liquidity to the XRPL and also build a bridge between traditional finance and the cryptocurrency space.

For the first time, Garlinghouse announced Ripple’s intention to launch a stablecoin in early April, later stating that the company has more than enough knowledge, experience and resources to carry out this ambitious task.

The CEO stated that Ripple has “years of experience, regulatory footprint, a strong balance sheet, and a network with near-global payments coverage,” offering cryptocurrency-powered payments using the XRP token. In the future, he added, XRP and the stablecoin will be used together for these purposes.

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