XRP CTO David Schwartz Mocks The Shiba Inu Crypto Meme, This Is What He Says

JAKARTA – Recently, Ripple's Chief Technology Officer (CTO) David Schawrtz satirized the Shiba Inu meme coin in a Twitter post. The architect of XRP Ledger mocked the huge supply of SHIB tokens.

He said that losing one billion SHIB tokens is a very small loss like losing 1.37 US dollars. Schwartz made the joke after the theft of $33.4 million worth of SHIB tokens at Bitmart last week.

Someone stole like a zillion Shiba Inu coins today; losses were estimated at like $1.37.

— (@JoelKatz) December 9, 2021

The satire irritated the growing ShibArmy community. One SHIB member quipped that XRP's performance has been dormant for 4 years, while traders and investors have benefited greatly from Shiba Inu.

However, the SHIB token is experiencing a massive correction from its all-time high that occurred in October. The cryptocurrency that claims to be the “Dogecoin killer” has the best rising performance so far in 2021.

On the other hand, XRP got a lawsuit from the US Securities and Exchange Commission (SEC) because Ripple was accused of selling XRP without registering it with the SEC first. The latest information states that it is likely to achieve a positive outcome from the trial.

The reason is, the SEC was sued by a non-profit organization regarding the partiality of SEC officials against other cryptocurrencies. A number of SEC officials are alleged to have received millions of dollars in payments from a law firm to bring Ripple to court.