Ripple CTO Schwartz to Exit, Trump Crypto Firm Tokenizes Commodities

- Ripple CTO David Schwartz plans to resign by the end of 2025. - Trump-backed World Liberty Financial unveils tokenization plans for commodities. David Schwartz, Ripple's Chief Technology Officer and a foundational figure in the company, has announced his impending resignation after leading its technological innovations for over a decade. According to The Block on October 1, 2025, he will step down by the end of the year, signifying a pivotal moment for Ripple's future. Dennis Jarosch, Vice President of Engineering, is poised to assume the CTO role, ensuring technical continuity. Schwartz, who was instrumental in creating the XRP Ledger, will transition to CTO Emeritus and serve on Ripple’s board of directors, allowing him to focus on personal endeavors. In related news from the Token2049 conference, the Trump-affiliated crypto venture World Liberty Financial disclosed ambitious plans to tokenize real-world assets like oil, gas, cotton, and timber. CEO Zach Witkoff emphasized that their platform, which will pair these commodities with the company's USD1 stablecoin, aims to increase market liquidity and transparency. The initiative uses blockchain technology to modernize trade in physical assets, and the company is also preparing to launch a new crypto debit card, expected to roll out in late 2025 or early 2026. This marks a notable step toward merging traditional commodity markets with cutting-edge blockchain solutions. According to CoinMarketCap data, as of 18:08 UTC on October 1, XRP (XRP) was trading at $2.929, with its 24-hour trading volume up 3.57%. Meanwhile, based on an update at 18:09 UTC, World Liberty Financial USD (USD1) maintained its peg at $1, as its 24-hour volume showed a modest 0.054% change.