Lead
Former Ripple chief technology officer David Schwartz, known on X as JoelKatz, publicly rebuffed XRP holders who asked him to support the FUZZY token on the XRP ledger. Schwartz said treating a meme coin as an investment feels distasteful, a remark that surfaced during a weekend discussion about FUZZY.
Background
Ripple, a blockchain infrastructure company, has long been associated with the XRP token. In recent weeks, the XRP Ledger has attracted attention from meme‑coin projects, including FUZZY, which has gained traction among XRP holders seeking alternative investment opportunities.
What Happened
During a weekend exchange, Schwartz addressed the growing interest in FUZZY. He declined to endorse the token, describing the idea of treating a meme coin as an investment as distasteful. His statement was made in response to XRP holders urging him to back the project.
Market & Industry Implications
Schwartz’s comments highlight a divide within the XRP community between traditional investors and those leaning toward meme‑coin speculation. The ripple effect of such high‑profile dismissals may influence how other XRP Ledger projects approach endorsement and community engagement.
What to Watch
Investors and observers should monitor the upcoming third week of May 2026, when analysts are tracking the performance of meme coins such as MemeCore, BinanceLife, and Gigachad on the XRP Ledger. Key price levels and breakout targets for these tokens may signal broader market sentiment toward meme‑coin investments.
