Ripple’s chief financial officer, Kristina Campbell, has left the company to take on the role of CFO at Maven Clinic. Campbell’s transition from Ripple comes as the blockchain payments firm is locked in a legal brawl with the U.S. Securities and Exchange Commission (SEC).
Ripple CFO Abruptly Steps Down
Kristina Campbell has made a surprising exit from Ripple, the company associated with the XRP token.
As per Campbell’s LinkedIn profile, her tenure at Ripple ended in October after roughly two and a half years at the fintech firm. While she gave no specific reason for her departure, Campbell voiced her appreciation for the “memorable” time at Ripple.
Before her employment at Ripple commencing in April 2021, Campbell was the CFO at PayNearMe, overseeing equity financings, debt refinancings, and establishing the groundwork for the payment firm’s strategic planning.
Ripple acknowledged the exit of the Havard-educated CFO in a statement and thanked her for her contributions to the firm during a period marked by “strong global momentum, business growth,” and regulatory hurdles.
Ripple maintained that the company remains in a robust financial position and “is laser-focused on its continued success in key markets around the world.” The San Francisco-based firm looks to solidify its standing in the global payment ecosystem despite its protracted courtroom war with the SEC.
Ripple vs. SEC Suit Trial Date
A U.S. federal judge on October 3 rejected the SEC’s bid to appeal its loss against Ripple.
The agency appealed against the court’s July decision declaring that Ripple’s XRP sales via exchanges did not constitute securities. The SEC contended that there was “substantial ground for differences of opinion” on the laws at hand.
The rejection of the SEC’s motion for appeal wasn’t an all-out loss for the regulator, though. The presiding judge scheduled a trial for April 23, 2024, to address other issues that still need resolution. The SEC could still try to lodge an appeal after the trial concludes.
XRP is trading hands at $0.497512 as of press time, a drop of 2.1% over the last 24 hours. The drop comes amid a pullback in the broader crypto markets as investors grapple with the ongoing Israel-Hamas tensions.
