Ripple’s CFO Quits the Payment Company
- Campbell served as Ripple’s CFO for over two years and previously held roles at other financial companies.
- Ripple is scheduled to go on trial with the SEC in April 2024.
- Brad Garlinghouse recently encouraged start-ups to stay away from the U.S. due to regulatory uncertainty.
Crypto payment company Ripple has confirmed the departure of its chief financial officer (CFO), Kristina Campell, after almost two and a half years with the firm. Campbell’s LinkedIn page shows that she currently occupies a similar role at the digital health company Maven Clinic.
A Ripple spokesperson confirmed the news in a statement:
We’re grateful for Kristina’s leadership over the past 2+ years and her contributions to the company, as we’ve experienced strong global momentum, business growth, and navigated regulatory headwinds. Ripple remains in strong financial standing and is laser-focused on its continued success in key markets around the world.
Prior to her time at Ripple, Campbell spent a number of years in the financial services industry. She reportedly spent four years at PayNearMe, a payment platform. Campbell shared a LinkedIn post about her new role, expressing her gratitude “to everyone at Ripple who made the last few years so memorable.”
She wrote in the post:
While healthcare is a complex, highly regulated industry like fintech, it’s new to me. I’m excited to bring my experience to this mission-driven team and learn everything I can along the way.
Campbell’s exit from Ripple comes at a time when the payment company is engaged in a legal dispute with the US Securities and Exchange Commission (SEC). The dispute, which has been going on since December 2020, is primarily focused on the sale of Ripple’s XRP token.
The SEC believes such a sale qualifies as securities and therefore is under its jurisdiction. However, a federal judge determined in July that XRP was not a security when sold to individual investors. Interestingly, the court reaffirmed the decision in October after the SEC filed an appeal.
It’s not clear if Campbell’s exit had anything to do with Ripple’s battle in the US. The crypto firm is no doubt facing the heat despite its confidence in securing a victory against the SEC. Interestingly, Ripple’s CEO, Brad Garlinghouse, recently acknowledged that the US might no longer be the right destination for new projects due to regulatory uncertainties. He encouraged new companies to expand to other areas with more friendly policies.
I have covered some exciting stories in my career as a journalist and find blockchain-related stories very intriguing. I believe Web3 will change the world and want everyone to be a part of it.
