David Schwartz Trimmed 2.5M XRP, Citing $1.7M in Taxes
Two outlets report that Ripple co-founder David Schwartz sold 2.5 million XRP and paid $1.7 million in taxes on the proceeds.
Two outlets report that Ripple co-founder David Schwartz sold 2.5 million XRP and paid $1.7 million in taxes on the proceeds. Bitcoin (BTC) is trading at ₹70,15,096 ($74,591.00), down 0.2% since this brief published. This is an original Token Times brief synthesising 2 outlets (CryptoNews, U.Today), with their figures cross-checked, plus live market data, as of Mon, 09 Nov 2026 19:30:01 UTC.
Schwartz’s sale highlights how insider de-risking and tax obligations can add XRP to circulating supply while potentially tempering concerns about an unexplained dump. His reported view that XRP could eventually surpass Bitcoin adds a long-term market-cap claim to the discussion.
- Schwartz sold 2.5 million XRP, with both outlets agreeing on the amount.
- CryptoNews and U.Today both report $1.7 million paid in taxes.
- U.Today frames the tax evidence as a response to dumping allegations.
- XRP fell 5.48% over 24 hours and 12.53% over seven days.
CryptoNews and U.Today agree that David Schwartz sold 2.5 million XRP and reported $1.7 million in taxes connected with the sale. CryptoNews also says Schwartz sold at a low price and still believes XRP could surpass Bitcoin, while U.Today presents the tax documentation as a response to allegations that he was dumping XRP and details his broader de-risking approach. The outlets do not contradict each other on the transaction size or tax figure, but they emphasize different aspects: CryptoNews focuses on the sale and Schwartz’s market-cap view, whereas U.Today focuses on tax evidence and the strategy behind the reduction.
- Ripple's David Schwartz Advocates for XRP Over Ethereum and Solana in Banking
- David Schwartz Criticizes Persistent XRP Spam on X
- David Schwartz Trimmed 2.5M XRP, Citing $1.7M in Taxes — this brief
David Schwartz sold 2.5 million 
XRP and paid $1.7 million in taxes on the proceeds, according to CryptoNews and U.Today. Both outlets corroborate the size of the sale and the tax amount, providing unusually specific figures for an insider transaction in the second-largest cryptocurrency by market capitalization.
CryptoNews reports that Schwartz executed the sale while XRP was at a relatively low price and still holds a view that the asset could surpass 
Bitcoin. That longer-term belief coexists with the reported reduction in his personal XRP position, while U.Today characterizes the transaction as part of a wider de-risking strategy.
U.Today says Schwartz produced tax evidence concerning the 2.5 million XRP sale to counter claims that he was dumping the token. CryptoNews likewise links the transaction to $1.7 million in taxes, although it places greater emphasis on the low entry or sale price and his continuing expectation for XRP relative to Bitcoin.
The reported scale is material within XRP’s $69.3 billion market capitalization, and the broader crypto market was moving lower during the latest market snapshot. Bitcoin, by comparison, carries a $1.5 trillion capitalization, while XRP’s current valuation remains far below it despite Schwartz’s reported long-term view.
Live data showed XRP at $1.091, down 5.48% over 24 hours and 12.53% over seven days. Bitcoin traded at $74,713, down 1.30% over 24 hours and 3.49% over seven days, as the total crypto market capitalization stood at $2.56 trillion. The Fear & Greed index was 29, indicating a Fear reading, while additional disclosures, tax records, insider sales and XRP’s relative performance against Bitcoin remain relevant points to monitor.
Since this brief published about 2 hours ago, Bitcoin (BTC) has moved from ₹70,26,569.75$74,713.00 to ₹70,15,095.95$74,591.00 — -0.16%.
The chart plots BTC's price: grey is the move before this brief published, the vertical dashed line marks the moment it published, the horizontal dashed line is the price then, and the coloured area is the move since — from Token Times's market data (daily resolution). It shows what happened after the news, not that the news caused it; many factors move prices. Not financial advice.
At today's peer-to-peer rate, 1 BTC ≈ ₹7.46M (about $74,591.00), down 1.6% over 24 hours. The rupee itself trades about 6.3% above the official rate on the P2P market, so a Indian buyer's effective cost differs from the headline dollar price.
Live market data
Current prices for the assets in this story — live, source-stamped, updated every 15 minutes.
1 key figure independently matched across 2 outlets reporting this story.
Token Times extracts the figures each outlet reports and flags the ones that agree. Numbers cited by only one outlet are attributed in the brief, not shown as corroborated.
David Schwartz Trimmed 2.5M XRP, Citing $1.7M in Taxes — questions & answers
How much XRP did David Schwartz sell?
CryptoNews and U.Today both report that Schwartz sold 2.5 million XRP.
What taxes were paid on the XRP sale?
Both outlets report $1.7 million in taxes connected with the 2.5 million XRP sale.
How did XRP compare with Bitcoin in the market snapshot?
XRP was worth $1.091 and had a $69.3 billion market capitalization, compared with Bitcoin at $74,713 and a $1.5 trillion capitalization.
How much is 1 Bitcoin worth in rupee today?
About ₹7.46M at the live peer-to-peer (P2P) USDT rate, which is what Indians typically trade at — equivalent to roughly $74,591.00. The rupee price moves with both BTC's US-dollar price and the USDT/INR rate; use our Bitcoin in rupee page for any amount.
Has Bitcoin's price moved since this brief was published?
BTC is down 0.16% since this brief first published — trading at ₹70,15,096 ($74,591.00) now versus ₹70,26,570 ($74,713.00) at publication. Token Times re-checks this figure against CoinGecko and Binance every 15 minutes.
Which outlets reported this story?
This is an original Token Times brief that synthesises reporting from CryptoNews, U.Today, with the key figures cross-checked for agreement across them. It is not a copy of any one article — follow the source links above for the original reporting.
Original summary — not financial advice. This is an original Token Times brief that summarises a development reported elsewhere and adds live market data for context; it is not the original article and reproduces no part of it. Follow the source link above for full details. Crypto is volatile and high-risk — always do your own research.