Ripple CTO David Schwartz Weighs in on Jed McCaleb's Exclusion From the SEC's Lawsuit

Ripple CTO David Schwartz addressed questions on why Ripple co-founder Jed McCaleb was excluded from the SEC's lawsuit.

Ripple CTO David Schwartz has weighed in on the matter, addressing questions on why Ripple co-founder Jed McCaleb was notably absent from the SEC’s recent amended complaint. Schwartz suggested that McCaleb’s early departure from Ripple and his lack of ongoing involvement may have influenced the SEC’s decision.

In a post on X, crypto commentator “Digital Asset Investor” raised questions on why McCaleb was not included in the SEC’s amended complaint. This inquiry followed a post by Andrew De Vilbis, who shared McCaleb’s vision for Stellar, the blockchain project that McCaleb co-founded after leaving Ripple.

Responding to the commentary on McCaleb’s exclusion, Schwartz offered his perspective on the matter. He suggested that Ripple’s former CTO had not been included in the SEC’s amended complaint because his inclusion would not serve the agency’s objectives in the case. Schwartz stated:

You’d have to ask the SEC that. My speculation is that because he wasn’t currently holding any position at Ripple, including him in the suit wouldn’t provide any of the leverage that the SEC was looking for.

This statement implies that the SEC may not have deemed McCaleb’s involvement critical to its case against Ripple’s current leadership, which includes CEO Brad Garlinghouse and Executive Chairman Chris Larsen.

As reported by Coin Edition earlier this month, the SEC has filed an appeal in the Ripple case, contesting the verdict that programmatic sales of XRP did not meet the legal criteria for an investment contract. In the filing, the agency also revived aiding and abetting claims against Garlinghouse and Larsen.

According to legal expert Jeremy Hogan, this move appears aimed at increasing potential penalties, describing it as a calculated attempt to pressure Ripple’s executives.