David Schwartz, former Ripple’s chief technology officer, shared on social media platform X on Feb. 1 concerns about deep-seated fractures affecting Ripple and the broader crypto industry, warning that resurfacing disputes and historical rivalries could point to systemic weaknesses rather than isolated disagreements.
He stated:
“I hate to be a conspiracy theorist, but I wouldn’t be at all surprised if this is just the tip of a giant iceberg.”
The comment circulated as discussion centered on a July 31, 2014, email titled “Stellar isn’t so Stellar,” sent by Austin Hill, then co-founder and chief executive officer of Blockstream, to Joichi Ito and Jeffrey Epstein, with Reid Hoffman copied.
In a separate X post, Schwartz clarified the nature of the correspondence, writing: “This is an email from Austin Hill to Jeffrey Epstein explaining that Hill felt that support for Ripple or Stellar made someone an enemy/opponent. It seems quite likely that Hill and others expressed similar views to many other people.”
The message shows Hill objecting to investors backing both Ripple and Jed McCaleb’s newly launched Stellar network, arguing that overlapping support conflicted with Blockstream’s ideological and strategic direction. He proposed direct discussions with investors and raised the possibility of reducing or withdrawing allocations, framing the issue around alignment rather than short-term financial outcomes.
Read more: New Epstein Documents Fuel High-Stakes Bets on Polymarket and Kalshi
The correspondence confirms that Epstein was included in discussions involving investor relationships but provides no indication of decision-making authority, investment size, or direct engagement with Ripple leadership. As speculation spread online, Schwartz addressed claims of Epstein-linked influence, stating:
“I don’t know of any connections between Jeffrey Epstein and Ripple, XRP, or Stellar.”
In a later post, Schwartz reflected on the broader cost of entrenched divisions within crypto, noting: “The sad part is, we really are all in this together and this kind of attitude hurts everyone in the space.” Industry observers continue to point to these early disputes as lasting influences on governance debates, investment behavior, and perceptions of trust as digital assets move toward wider adoption.
- Why did David Schwartz comment on a 2014 Blockstream email?
He said the resurfaced email highlights deeper structural issues in crypto that may still affect the industry today. - What is the significance of the Blockstream and Stellar email?
The email shows early investor conflicts over backing Ripple, Stellar, and Blockstream simultaneously. - Was Ripple directly involved in the 2014 email exchange?
The document does not reference Ripple leadership directly. - Why do early crypto disputes still matter?
Observers say they continue to shape governance debates, trust, and investment behavior across crypto.
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