Ripple’s Schwartz Joins XRPL Foundation, XRP Hits ATH in Wallets, Cardano Founder Hoskinson Calls Clarity Act ‘Insanity’ — Top Weekly Crypto News

Ripple’s Schwartz joins XRP Ledger Foundation

The XRP Ledger Foundation (XRPLF) has appointed Ripple Chief Technology Officer David Schwartz as an Honorary Board Member.

The XRP Ledger Foundation (XRPLF) has announced a major addition to its leadership ranks, welcoming Ripple Chief Technology Officer David Schwartz as an Honorary Board Member.

The appointment brings one of the most prominent and deeply knowledgeable figures in the cryptocurrency space directly into the fold of the independent non-profit tasked with fostering the XRPL ecosystem.

“We’re honored to welcome David Schwartz as an Honorary Board Member of the XRP Ledger Foundation,” the organization stated. “As one of the original architects of the XRP Ledger, David brings deep technical insight and a long-term perspective that will help strengthen the Foundation’s technical stewardship of the ecosystem.”

XRP hits all-time high of 332,230 wallets

XRP secures a massive milestone amid growth of the network.

With 332,230 wallets holding at least 10,000 XRP, XRP Ledger has achieved a significant on-chain milestone. The number indicates ongoing accumulation from mid-to-large holders, despite erratic market conditions, and continues a growth trend that has been steadily increasing since June 2024. 

The information is significant because wallet growth of this magnitude typically indicates growing long-term conviction, as opposed to short-term speculative trading.

Growing numbers of larger XRP wallets in the past indicate that investors are not emotionally responding to short-term price fluctuations, but rather positioning for future gains.

Charles Hoskinson calls Clarity Act section removal ‘insanity’ and ‘dystopian nightmare’

Cardano founder calls Clarity Act Section Removal ‘Insanity’ and ‘Dystopian Nightmare’

Charles Hoskinson shuts down the anti-open source software narrative.

Charles Hoskinson sharply criticized efforts to remove Section 604 from the proposed Digital Asset Market Clarity Act after the National Fraternal Order of Police urged U.S. senators to reconsider the provision. 

The debate centers on whether open-source crypto developers and infrastructure providers could face legal exposure for how third parties use blockchain technology.

In a letter sent to Senators Tim Scott and Elizabeth Warren, National Fraternal Order of Police President Patrick Yoes argued that Section 604 would weaken law enforcement’s ability to pursue financial crimes involving cryptocurrency. 

The organization warned that exempting “non-controlling developers or providers” from being treated as money transmitters could make it harder for prosecutors to target criminal networks using digital assets.

Hoskinson strongly rejected that argument, describing the position as irrational and fundamentally dangerous for software development. 

According to him, holding developers legally responsible for crimes committed by unrelated third parties would create a framework where creators of open-source software become permanently liable for actions entirely outside their control.