David Schwartz Steps Back as Ripple CTO After 13 Years

Dennis Jarosch will take over engineering leadership. His announcement briefly lifted XRP’s price before a slight dip. At the same time, US crypto hiring is booming as new legislation like the Genius Act and pro-crypto policies under President Trump drive talent back to the country. Firms are shifting focus from technical hires to commercial roles, while companies like Ripple, Coinbase expand their US crypto teams.

David Schwartz Ends Daily CTO Duties

David Schwartz, one of the most recognized people in the cryptocurrency world and Ripple Labs’ chief technology officer, announced that he will be stepping back from his daily responsibilities at the company after more than 13 years of service. In a post that was shared on X, Schwartz revealed that by the end of the year he will no longer serve as Ripple’s CTO in an active capacity, although he will stay closely connected to both the company and the XRP community. 

He is known as one of the original architects of the XRP Ledger, and first joined Ripple in 2011 as a cryptographer and rose to the role of CTO in 2018. He helped steer the company through a period of impressive growth and challenges.

Schwartz said he looks forward to spending more time with his family and returning to hobbies he set aside during his years of leadership. However, he assured supporters that his involvement with Ripple and the XRP ecosystem is far from over, as he will continue to engage with the community. He will keep an honorary role as CTO emeritus and will also take a position on Ripple’s board of directors. 

Ripple CEO Brad Garlinghouse praised Schwartz as a “true OG in crypto,” and recognized his pivotal contributions to the blockchain industry. The company also confirmed that Dennis Jarosch, Ripple’s senior vice president of engineering, will take over leadership of the engineering team moving forward.

The announcement had an immediate, if modest, impact on XRP’s market performance. XRP’s price climbed from $2.83 to $2.87 in the hours after Schwartz’s post. At press time, XRP was trading hands at $2.84 after its price dipped by just over 2% in the past 24 hours of trading.

XRP’s price action over the past 24 hours (Source: CoinMarketCap)

Ripple has a lot of influence both in the crypto industry and in broader US financial and political arenas. The company was one of the biggest backers of the pro-crypto political action committee Fairshake after contributing around $70 million across the 2024 elections and 2026 midterms. Ripple’s political engagement gained momentum after years of legal disputes with the US Securities and Exchange Commission (SEC), which concluded earlier this year when the SEC dropped a critical appeal. 

US Crypto Jobs Boom

Meanwhile, crypto companies in the United States are experiencing a surge in hiring as new legislation and clearer regulatory frameworks reversed years of talent migration overseas. Hugh Norton-Smith, co-founder of recruiting firm Intersection Growth Partners, said there is now a “massive re-shoring of crypto talent” as the environment for digital assets in the US becomes more defined. He pointed to the Genius Act, which was signed into law by President Donald Trump in July, that created clear rules for stablecoins and has been a major catalyst for the shift.

Just a year ago, many US crypto companies were planning to move operations to hubs like Dubai or the Cayman Islands, but now those offices are becoming secondary outposts. Norton-Smith added that most leadership searches are once again US-based, with a growing demand for executives who can bridge traditional finance and crypto. 

He explained that hiring priorities shifted away from developers and compliance officers toward commercial roles in marketing, partnerships, and business development, as firms now want to capture larger market share. The change forms part of the broader industry shift from building infrastructure to scaling adoption.

Marieke Flament, former CEO of the Near Foundation, also said US hiring has been “definitely very active” this year, while demand in the Middle East remains steady and Europe has seen a preference for traditional finance professionals with crypto expertise. According to Crypto Jobs List, the average global Web3 salary sits at about $103,000 per year, with the top 10% of roles earning roughly $160,000 and the lowest 10% closer to $18,000.

(Source: Crypto Jobs List)

The hiring momentum comes thanks to Trump’s push for pro-crypto policies. Since taking office in January, his administration created the Working Group on Digital Asset Markets and filled cabinet roles with industry allies. 

At the SEC, new chair Paul Atkins launched “Project Crypto” to modernize securities laws, which suggests a departure from the agency’s previous enforcement-heavy approach. This friendlier stance led companies like Ripple and Coinbase to concentrate more jobs in the US, while traditional financial giants like Charles Schwab and Fidelity have also started recruiting for senior crypto roles.

Despite these advances, there are still some challenges to face. Tax rules for digital assets in the US are still fragmented, and lawmakers from both parties called for urgent reform to prevent innovation from being driven offshore. Political criticism also emerged from people like Senator Elizabeth Warren warning that the Trump administration’s close ties to crypto projects could present conflicts of interest. 

Overall, the immediate effect of regulatory clarity is clear: crypto companies are hiring aggressively in the US again.