Growth Fears and Geopolitical Risk Drive Sharp Decline in Zcash
Zcash dropped sharply as growth concerns and US-Iran tensions fueled broad risk aversion in crypto markets.
Ripple CTO Emeritus David Schwartz unboxed FUZZY trading cards from an unknown sender despite earlier saying he does not endorse the token.
Ripple CTO Emeritus David Schwartz posted on X on October 22 to display a box of trading cards tied to FUZZY, an XRP meme coin. He said he did not know who sent the cards but thanked the project's account regardless.
The unboxing could revive the controversy, though, given that Schwartz spent much of May saying he gives the token no endorsement.
On the XRP Ledger, the meme coin trades under the name Fuzzybear (FUZZY). Fuzzybear is one of the XRP Ledger's earliest wallets, and the token takes its name from that wallet, which dates to the network's launch.
Over the past week, FUZZY more than doubled in value. The steepest spike, notably, hit on October 20, two days before Schwartz's post.
Opening fuzzy cards in my kitchen.
I'm not sure who gifted these to me. @fuzzy_xrp? But thank you! pic.twitter.com/xS4HCg8Coa— David 'JoelKatz' Schwartz (@JoelKatz) October 22, 2026
In that post, Schwartz said he was not sure who had given him the cards, and he then thanked the FUZZY account, adding a question mark.
The cards are part of Fuzzycards, a trading card game centered on the token. Each card NFT can be redeemed for a physical booster pack of five cards, according to the team.
The developers behind the project add that every hero card contains a riddle based on XRP Ledger history.
Schwartz created a trust line for the FUZZY meme coin earlier this year. A trust line is a wallet configuration allowing a wallet to hold an asset issued on the XRP Ledger.
The step, he said then, was routine. Days later, he said treating memecoins as investments struck him as distasteful.
Holders of the XRP meme coin have nevertheless read meaning into his minor gestures in the past. His FUZZY profile picture change in May drew criticism, as switching an avatar requires no technical action.
His own posts also move quickly. This month he was part of a debate about XRP Ledger lending plans. He also posted a selfie taken in front of a billboard of actress Sydney Sweeney, and that image spread widely.
Meanwhile, the Fuzzybear token's XRP pair ranks third among automated market maker (AMM) pools on the XRP Ledger, with roughly $992,000 in liquidity.
AMM pools enable traders to swap tokens using shared reserves rather than an order book. The XRP pairs with CRYPTO and RLUSD, Ripple's stablecoin, are the only ones with more liquidity.
For an XRP meme coin, being seen in a prominent developer's kitchen amounts to free attention. For Schwartz, it demonstrates how tough it is to remain neutral when every kind gesture is taken as a clue.
His post made no mention of FUZZY's price or of his previous opinion on memecoins.
As for XRP itself, Schwartz said in September that XRP could one day pass Bitcoin in market capitalization.
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Disclaimer: this article comes from third-party media and is provided for reference only. It does not constitute investment advice. Crypto and other financial products carry significant price volatility risk, so please make your own decisions carefully.
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