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Ripple hires new CFO amidst SEC lawsuit

ripple hires new cfo

On May 4, California-based Ripple Labs Inc. hired Kristina Campbell as its new chief financial officer amidst their lawsuit on investor protection violations.

Campbell was previously a senior officer at a bank at Green Dot Corporation. She was also the CFO of California-based payment and billing firm PayNearMe for five years until she took over the same position in Ripple.

In her role as the CFO, Kristina Campbell will handle the financial strategies of the company while it goes through the legal battle.

‘Digital asset technology allows us to rethink and improve the systems and infrastructure around how money moves. With this technology, we will make the global financial system accessible to all. Ripple is uniquely positioned to improve global payments in ways that have yet to be defined and I’m excited to be a part of that solution’, Campbell said in the company’s press release.

Aside from naming Campbell as the new CFO, Ripple also appointed former US Treasurer Rosa Gumataotao Rios as one of its board members on May 4.

‘Ripple is one of the best examples of how to use cryptocurrency in a substantive and legitimate role to facilitate payments globally. Blockchain and digital assets will underpin our future global financial systems. Cryptocurrency is the what, Ripple is the how,’ Rios said in a statement reported by CNBC.

With thirty years of experience in real estate finance, urban revitalisation and economic development, Rios aims to bring Ripple her expertise in investment management and public policy.

‘These two exceptional leaders join Ripple at a pivotal time for the company. Rosie’s experience in the public and private sectors provides an invaluable perspective to Ripple, especially during this time as the industry works to define crypto’s future. As well, adding Kristina’s extensive knowledge and success building teams and processes at rapidly accelerating businesses was a no-brainer. We are extremely fortunate to have them on the team as we continue our rapid international growth and to champion for regulatory clarity in the US’, Garlinghouse commented on Ripple’s newest additions.

The lawsuit against Ripple Labs Inc. was made by US securities regulators in December 2020 when Ripple sold its token XRP, allegedly raised more than $1.3 billion.

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