Over the past few days, there have been a number of questions, pleas and comments within this forum and others related to Jed McCaleb and Jesse Powell. Unfortunately, there have also been a number of misleading and inaccurate statements that have stoked this ongoing conversation. We stand by the original statement made by Arthur Britto and the facts as presented in the letter to Jesse Powell.
The situation with Jesse has obviously escalated to the level that we have to respond formally and directly to him. However, we do not want that to distract from our pursuit of the larger Ripple vision. To that end, we will not comment on these issues with Jed or Jesse further in these forums. Instead, we will continue to use the forum as a way to engage in productive dialogue about the future of Ripple, Ripple Labs and the larger ecosystem within which we all exist.
Further, co-founder and CEO Chris Larsen has authorized the creation of a foundation to distribute his donation of 7 billion XRP to the underbanked and financially underserved. This plan has previously been in development but is now being accelerated and finalized independent of a formal agreement amongst all the original founders. He believes this is both the right thing to do and the best way to remove further distractions in pursuit of the broader vision of the company. Details of the foundation, its independent directors, and the giveaway will be forthcoming.
Finally, I would personally ask that we all remember that we are striving together to build something meaningful in Ripple. There will always be differences of opinion and we encourage constructive dialogue on those as a community, but it's important that we remain committed to our larger vision for bringing about a more global, open and efficient financial marketplace through Ripple.