McCaleb’s Departure Sparks Stellar’s Genesis
Table of contents
Early Challenges and Controversial Moves
Schwartz noted that one of Stellar’s initial strategies involved a large-scale giveaway, reminiscent of McCaleb’s earlier proposals at Ripple. However, he characterized that initiative as unsuccessful, remarking that Stellar eventually evolved into “a clone of Ripple.” He also mentioned McCaleb’s controversial decision to attempt a rapid sell-off of his XRP holdings—a move that Ripple legally curtailed, preserving the value of those assets and leaving them worth over $1 billion.
Community Response and Broader Implications
The discussion has sparked varied reactions within the crypto community. One X user, Dane, pointed out that Schwartz’s remarks should not be taken as a judgment on Stellar’s current potential. In response, Schwartz clarified, “100%. If you think what Jed did somehow renders Stellar/SDF evil or deserving of scorn, that argument almost equally applies to XRPL/Ripple.” This exchange underscores that while McCaleb’s departure was contentious, it should not tarnish Stellar’s reputation or its ongoing development.
Innovation Over Disputes
Schwartz’s comments highlight a broader industry trend: internal conflicts among founders can lead to new ventures and healthy competition. Ultimately, both Ripple and Stellar will be measured by their technological progress and real-world utility rather than past disputes. As the crypto ecosystem continues to evolve, the focus remains on innovation and value creation.