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1/6 This @JoelKatz tweet doesn't talk about the #XRP escrow because #Ripple doesn’t own the escrow even though they have been releasing 1 billion a month since 2016. The #XRP escrow is controlled by the trusted validators and not #Ripple.
1/6 This @JoelKatz tweet doesn't talk about the #XRP escrow because #Ripple doesn’t own the escrow even though they have been releasing 1 billion a month since 2016. The #XRP escrow is controlled by the trusted validators and not #Ripple.
https://twitter.com/JoelKatz/status/1646902421371899905
2/6 #Ripple manages the escrow! Validators can decide to burn it, sell it or give it away through a democratic vote. But #Ripple can't decide anything about it. But managing the escrow is! Why? Because they sell #XRP in OTC for #ODL providers.
3/6 They know who to sell it to. This is not the job of the trusted validators. Trusted validators prevent #Ripple from doing what it wants. 80 billion #XRP tokens were allocated to #Ripple to ensure a stable supply of #XRP, the company locked 55 billion #XRP in an escrow account
4/6 That’s why the validators are important here 🤷🏻♂️ 55 billion are NOT HELD BY RIPPLE or CONTROLLED BY RIPPLE. #Ripple co-founders and the core team received the remaining 20 billion #XRP.
5/6 David talks about the #XRP held by #Ripple in their own wallet which is far from the escrow. He is right! I don't know why people think @JoelKatz is negative! He tells the truth and the truth hurts because 90% don't understand that's why people jump & call his answer crap.
6/6 #Ripple does only hold 5B #XRP. Maybe they should hold less and that’s what he was talking about. 
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