David Schwartz Warns Against FOMO as Ripple USD Launches December 17, 2024
On December 15, 2024, David Schwartz, Ripple's CTO, issued a timely warning to crypto enthusiasts and the XRP community on X.com (formerly Twitter). He cautioned against the fear of missing out (FOMO), stating, "Please don't FOMO into a stablecoin! This is not an opportunity to get rich." His advice came just hours before the anticipated launch of Ripple USD (RLUSD), confirmed to go live on December 17, 2024.
RLUSD is poised to be a game-changer as Ripple’s first enterprise-grade stablecoin, designed with trust and compliance in mind. This USD-denominated digital asset aims to bridge the gap between the crypto sector and traditional finance.
The announcement signals a significant development for both Ripple and the broader crypto community, offering new opportunities for stability and innovation in the ever-evolving digital asset landscape. As excitement builds, Schwartz's cautionary words remind investors to proceed with prudence.