Ripple CTO on Dec. 25, 2025: Pre-Escrow Sales Faced No Cap; 2017 Lockup Curbed XRP

On December 25, 2025, Ripple CTO David 'JoelKatz' Schwartz said the firm's 2017 escrow constrained its XRP sales, noting that before the lockups it could have sold without a cap. He said he opposed creating the escrow, which locked 55 billion XRP with 1 billion released monthly, and argued markets price in expected token distributions.