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American blockchain payments firm, Ripple Labs Inc, has bid farewell to its Chief Financial Officer (CFO) Kristina Campbell.
Subtle Ripple CLO Exit
The departure announcement was not revealed, but Campbell updated her LinkedIn profile to show she left the company this month. With her exit from the company, Campbell’s time as the CFO of Ripple Labs is now summed up to about 2 years and 7 months.
Campbell was apparently a key person of interest in the company’s financial management with the menacing lawsuit brought on by the United States Securities and Exchange Commission (SEC). While Campbell’s role has been somewhat passive, crucial financial decisions made in her term as Ripple’s CFO are noteworthy.
Earlier this year, Ripple CEO Brad Garlinghouse revealed that the legal cost the company has incurred by reason of the SEC crackdown was pegged at $200 million. While the expenses have paid off in the long run with Judge Analisa Torres partly ruling in the company’s favor that the programmatic sales of XRP on secondary exchanges do not constitute a security, the impact is still profound for the company.
Campbell also oversaw the acquisition of Swiss-based institutional crypto asset service provider Metaco. The Metaco deal cost the firm $250 million making it the first major M&A activity on record for Ripple in years.
With Campbell out of Ripple, her LinkedIn profile now shows that she has assumed the position of the CFO at Maven Clinic, a virtual clinic for women and families on a mission to make healthcare available to all.
Ripple Not Alone in Top Staff Exodus
Ripple Labs is not alien to its top executives leaving the firm. Specifically, it has been recording an almost corresponding inflow and outflow of key figures in its legal team, a trend that has sparked FUD in the community.
Garlinghouse has notably been allaying these fears, noting that the exit of some of its defense lawyers does not weaken its case. The community was pacified recently following the onboarding of Attorney Caleb J. Robertson of Cleary Gottlieb Steen & Hamilton LLP into its defense team.
Campbell’s exit might spark another round of FUD but it should be noted that these exodus are not peculiar to Ripple as Binance Exchange has been facing related strain in recent times.
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