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Ripple currency exchange’s chief financial officer is leaving the company but did not provide any reason for the move. At the time of publishing, it was reported that Kristina Campbell already vacated her CFO post.
According to CoinTelegraph, Campbell left Ripple this month after serving the company for more than two years. She joined the firm in April 2021 after stepping down as finance chief at the PayNearMe payments platform, where she worked for four years.
Based on the reports, the former Ripple CFO only said that she had a memorable time at the company rather than sharing the reason for her departure. She is reportedly moving to Maven Clinic, a virtual healthcare provider, to assume a similar executive position.
Ripple Lost Its CFO Amid the Lawsuit Filed by the SEC
Ripple is currently battling the U.S. Securities Exchange Commission (SEC) in court, and it was noted that Campbell is leaving amidst all of the crypto exchange’s legal woes. The commission sued the firm in December 2020, citing violations of securities laws when it used XRP to raise funds.
Ripple is set to go on trial with SEC starting April 2024. Now, since she did not give an explanation for her departure, some observers think her decision could be related to the pressuring regulatory scrutiny that the company is facing in the U.S.
Withdrawn Fortress Trust Acquisition Bid
As she vacates her office, another major event that makes Campbell’s departure unfortunate is the fact that Ripple has just pulled out its bid to acquire Fortress Trust, a firm that provides financial and regulatory infrastructure for blockchain companies.
In the last week of September and just 20 days after its announcement of the Fortress Trust acquisition, Ripple backed out of the deal. At that time, PYMTS reported that the withdrawal came after a hacking incident that affected just a small portion of Fortress Trust’s customers but, despite the size, already caused a loss of about $15 million in cryptocurrency. Meanwhile, Blockworks reported that Ripple launched the search for its new CFO to succeed Campbell.
Photo by: Ripple Website
