David Schwartz, Ripple’s ex-CTO with the wit of a man who’s seen too many blockchain ponies, recently took to X to snuff out speculation that burning 33.6 billion XRP would make the token shine brighter than a crypto influencer’s ego. His weapon of choice? A historical jab at XLM’s 2019 burn-a spectacle so grand it could’ve been mistaken for a phoenix funeral.
The plot thickened when an X user, perhaps nursing a cold brew and existential dread, demanded Ripple prioritize XRP holders over shareholders. Ripple’s $50 billion buyback plan, they argued, was a capitalist farce. But Schwartz, with the charm of a man who’s seen it all, retorted that burning escrow would be like setting fire to your own library to prove you value knowledge-dramatic, but ultimately smoke and mirrors.
Somewhere on this chart, XLM burned half its soul. Can you find the scar?
– David ‘JoelKatz’ Schwartz (@JoelKatz) March 12, 2026
Escrowed XRP, a hoard of 33.6 million tokens, looms like a dragon guarding a treasure chest. Burning it would slash supply by a third, yet Schwartz implied the market might yawn. After all, XLM’s 2019 pyre-50% of its supply-did little to warm its price. A brief 14% spike, then a dive deeper than a bear market in January. The lesson? Scarcity is a fickle lover.
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Schwartz’s analogy was as sharp as a satoshi: “Find the burn on this chart,” he taunted, holding up a graph where XRP and XLM danced like twins separated at birth. One user guessed March 2019. Schwartz replied, “Not even close,” as if correcting a child who’d misread a bedtime story. The real burn, he hinted, was in November-a date etched in crypto’s memory like a bad divorce.
XLM’s 50% Burn: A Phoenix That Never Flew
Stellar’s 2019 purge of 55 billion XLM was a spectacle. Yet, as Schwartz noted, the price chart didn’t blink. XLM now trades at $0.16, a shadow of its 2018 $0.9381 glory. Burning tokens, it seems, is less alchemy and more theater. A grand gesture for a crowd that’s long since left the building.
In the end, Schwartz’s message was clear: crypto’s markets are a circus where even the biggest burns are just another act. The audience? They’ve seen it all. They’ll laugh, they’ll yawn, but they’ll never really care.
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2026-03-13 15:56