Ripple CTO Breaks Down XRP Distribution And Who Controlled 99% Of Supply At Genesis
Summary
XRP's initial distribution has sparked controversy. Ripple CTO David Schwartz defended the XRP Ledger's genesis block, stating it starts at #32,569 and had no transactions. Founders received 20% of the total supply, with the majority going to Ripple. The company releases one billion coins from escrow monthly. Schwartz also compared XRP's genesis block to Ethereum's early hiccups, citing a $6 million ETH transaction with no trace. This sheds light on XRP's distribution and Ripple's significant supply holdings.
