TLDR
- Ripple CTO David Schwartz confirmed he will only serve as an advisor to Evernorth.
- He clarified that his advisory role will not extend beyond the end of this year.
- Schwartz stated that he is not taking on any full-time position with the new XRP venture.
- He will remain connected to Ripple through a position on the company’s board of directors.
- Evernorth is targeting to raise over $1 billion through a Nasdaq listing to build an XRP treasury.
David Schwartz, Ripple CTO, has addressed rumors about his involvement with Evernorth, an XRP treasury targeting $1 billion via Nasdaq. He confirmed he will only act as an advisor without long-term commitment. Schwartz clarified shortly after Evernorth’s public announcement.
Ripple CTO Will Not Join Evernorth Full-Time
Ripple CTO David Schwartz quickly dismissed speculation about a permanent role in Evernorth’s new XRP-focused venture. He clarified he will only provide advisory input until the end of the year. Schwartz emphasized, “I’m not committing to anything beyond 2025.”
Although Evernorth suggested Schwartz would join, he stated he would not engage in full-time work with the firm. He had already shared plans to reduce professional responsibilities after stepping back from his CTO role. The Ripple CTO confirmed he will remain on Ripple’s board without executive duties.
Many in the XRP community reacted with surprise to his name being tied to a new major project. However, the Ripple CTO’s clarification indicated no conflict with his earlier statements. His guidance will support the venture without impacting his current board obligations.
I'm not making any commitments past the end of the year that put significant demands on my daily schedule.
— David 'JoelKatz' Schwartz (@JoelKatz) October 21, 2025
Despite transitioning from daily operations, the Ripple CTO has not cut ties with the company. Schwartz continues to serve on Ripple’s board while stepping away from intensive commitments. This arrangement allows him to remain active without full-time duties.
His involvement in Evernorth raised concerns about his prior retirement announcements. However, the Ripple CTO clarified that advisory roles differ from executive commitments. He reaffirmed that personal time remains his top priority moving forward.
This consistency aligns with Schwartz’s earlier statements about prioritizing family life over direct business involvement. While still advising the crypto space, the Ripple CTO maintains a limited schedule. His role at Evernorth will not conflict with Ripple’s strategic direction.
Evernorth Pursues $1B XRP Treasury With New CEO
Evernorth has launched as a strategic treasury for XRP after merging with Armada Acquisition Corp II. The firm aims to build a $1 billion reserve. Asheesh Birla, another Ripple executive, now leads the venture as CEO.
Birla confirmed the mission to “position XRP at the center of a diversified digital asset portfolio.” The plan includes acquisitions and long-term asset holdings. Evernorth seeks to absorb XRP from open markets and hold it institutionally.
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