David Schwartz, the Chief Technology Officer of Ripple Labs, recently shared details about his investment in Ethereum during the project’s initial coin offering (ICO) in 2014.
The disclosure came in response to a community inquiry regarding Schwartz’s past involvement with Ethereum. Schwartz clarified that his decision to participate in the ICO stemmed primarily from his friendship with Vitalik Buterin, a co-founder of Ethereum. He explained that Buterin invited him to contribute to the ICO, and Schwartz, wanting to support his friend’s venture, sent 20 BTC.
Schwartz emphasized that his investment was made without extensive research or a focus on potential financial returns. His primary motivation was to support Buterin’s vision for Ethereum, a project he believed held promise for the future of blockchain technology. In exchange for his 20 BTC, Schwartz received 40,000 ETH tokens.
A Look Back at the Ethereum ICO
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