Ripple Employees Hodling XRP Can Claim Spark Tokens Except Jed McCaleb 14
XRP NewsDecentralized Finance (DeFi)

Ripple Employees Hodling XRP Can Claim Spark Tokens Except Jed McCaleb

Avatar photoBy John P. Njuion

Quick take:

  • The XRP community had noted Ripple CTO, David Schwartz, had activated his wallet address for the Flare Network snapshot and were curious about his eligibility for the event
  • Mr. Schwartz responded by explaining he too was not sure he was eligible
  • He did it to show support for the Flare Networks event and that it was safe
  • Flare Networks clarified that all current and almost all past Ripple employees can claim Spark tokens
  • However, Jed McCaleb’s wallet is excluded from the event due to his selling activity of XRP

The XRP community is known for being one of the most vigilant in the crypto industry. XRP community member @Brother_Angelus demonstrated this fact by pointing out on Twitter that Ripple CTO, David Schwartz, had activated his XRP wallet for the Flare Network snapshot. His reason for doing so was that the Flare Networks team had highlighted that certain previous employees of Ripple Labs were excluded from the snapshot and distribution of Spark tokens.

Below is @Brother_Angelus’s tweet requesting clarification from Flare Networks regarding the eligibility of Mr. Schwartz for the Spark token distribution event.

Ripple CTO: I’m Not Sure, But I Did it to Support Flare Networks

Ripple CTO, David Schwartz, responded to the query by stating that he too was unsure of his eligibility, but he did it to support the Flare Networks project and prove that the Spark token distribution was safe.

I assumed I was eligible for the drop because I’m neither Ripple Labs nor a previous employee of Ripple Labs. But I don’t know. I had a lot of reasons for registering, no one reason significantly stronger than the others. Show support, show it was safe, sell my tokens ASAP 4 $’s.

All Current and Almost All Past Ripple Employees Qualify

The team at Flare Networks also provided further clarifications by stating that all current, and almost all past Ripple employees were eligible for the Spark token distribution.

@JoelKatzWe are so honored that you are claiming your Spark tokens. All current (and almost all past) Ripple employees can claim Spark with the XRP that they hold personally.

Jed McCaleb Is Disqualified for his Consistent Selling of XRP

In particular, the team at Flare Networks explained that the founder of Ripple, Jed McCaleb, was disqualified from the Spark token distribution due to his continually selling of XRP.
We are excluding Jed’s XRP from the distribution.
We took the decision to exclude Jed as the consistent sales of XRP having a negative effect on the psychology of the market make it clear he is not an XRP supporter. Spark attributable to his XRP holdings are being distributed equally to all other valid claimants.

Flare Networks Has no Animosity Towards Jed McCaleb

Furthermore, the Flare Networks team clarified that they had no animosity towards Jed McCaleb or the Stellar Foundation.
We do not know Jed (beyond 1 call) and have absolutely no animosity toward him or Stellar. Flare is intended to bring utility to the XRP Ledger – we reserve the right to structure the initiation of the network in the way we think necessary to achieve that objective.
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John P. Njui
John is a journalist and writer with a vast crypto and blockchain industry background. He has been passionately writing and creating crypto content since 2017. When not immersed in the complex world of decentralized finance, John is often seen playing a chess game or running a marathon. He is a man of many talents.