Ex-Ripple CTO Won’t Endorse FUZZY Meme Coin

David Schwartz, Ripple’s chief technology officer emeritus, opened a technical trust line for the FUZZY token on the XRP Ledger over the weekend and clarified he would not endorse the project. The exchange took place on the social platform X and drew attention after some users treated the trust line as a sign of approval.

Posting as JoelKatz, Schwartz explained that creating a trust line is a routine network action and wrote that it “is not a vote of confidence in any specific project.” He added he has “no direct involvement with FUZZY and know[s] no more about it than any other observer.”

Schwartz said he avoids public endorsements to reduce the risk of unintentionally promoting bad actors. He described treating a meme coin as an investment as something that “feels distasteful” and called attempts to construct a serious portfolio around such tokens “ridiculous.” He also noted that meme coins can have a role in internet culture.

FUZZY takes its name from the Fuzzybear wallet, an early XRP Ledger account noted for a trade that exchanged 1 XRP for 1 BTC. The token is part of a recent increase in community-created meme tokens on the ledger, including ARMY, PHNIX and RIPPY, which have seen rapid price moves and higher retail interest in recent months.

That activity has coincided with heavier trading on platforms that focus on XRP Ledger assets, such as First Ledger and Magnetic. Some community members said liquidity from meme tokens benefits the broader XRP ecosystem; others urged influencers and developers not to provide endorsements that might be mistaken for validation.

The exchange highlighted a debate within the XRP community about the role of novelty tokens compared with assets intended for long-term investment. Schwartz reiterated that his technical actions on the ledger should not be interpreted as promotional support.