Ripple CFO Kristina Campbell Departs Amid SEC Legal Battle, Joins Maven Clinic
Summary:
Kristina Campbell, Ripple's CFO, has parted ways with the cryptocurrency payments platform to join Maven Clinic, a digital healthcare provider. This move comes amidst the ongoing legal battle Ripple is facing with the US Securities and Exchange Commission (SEC) over XRP token sales. It is yet unclear whether Campbell's departure is linked to these regulatory pressures. Ripple's trial with the SEC, along with other high-profile cases in the crypto space, is expected to start in 2024.
Ripple's top financial executive, Kristina Campbell, has parted ways with the cryptocurrency payment gateway, transitioning to a similar role at digital medical service Maven Clinic. As per Campbell's LinkedIn profile, her tenure at Ripple ended unceremoniously in October, wrapping up over two years of service, fondly recollected as an "unforgettable" period. She became a part of Ripple's team in April 2021, subsequent to an over-four-years stint as the chief financial officer at PayNearMe, a payment platform. “Healthcare might be a highly regulated, intricate sector, akin to fintech, but it's an entirely new territory for me,” stated Campbell in a social media post dated October 7. This news breaks amidst Ripple's ongoing legal standoff with the US Securities and Exchange Commission (SEC), primarily concerning XRP token sales, a dispute that has been underway since December 2020. A ruling in July from a federal judge maintained that XRP tokens were not securities when sold to retail investors, a judgement that remained in effect despite a subsequent appeal from the SEC in October. Ripple’s court dispute with the SEC is slated to kick off in April 2024, coinciding with other prominent legal cases involving the cryptocurrency sphere, such as the second criminal trial for former FTX CEO Sam Bankman-Fried set for March 2024 and ex-Celsius CEO Alex Mashinsky's trial scheduled for September 2024. It's uncertain whether Campbell's exit has any bearing on the regulatory pressures Ripple is currently dealing with in the United States. Recently in September, Ripple's CEO Brad Garlinghouse cautioned burgeoning companies to steer clear of the US, while the company's CTO David Schwartz suggested that the situation is improving in terms of the regulatory ambiguity prevalent in the country. According to a magazine, US law enforcement agencies are intensifying their crackdown on crimes related to cryptocurrency.
Published At
10/9/2023 7:30:00 PM
Disclaimer: Algoine does not endorse any content or product on this page. Readers should conduct their own research before taking any actions related to the asset, company, or any information in this article and assume full responsibility for their decisions. This article should not be considered as investment advice. Our news is prepared with AI support.
Do you suspect this content may be misleading, incomplete, or inappropriate in any way, requiring modification or removal?
We appreciate your report.