Ripple, a blockchain business, has appointed a new president as the company prepares for the Securities and Exchange Commission case verdict.
Ripple stated in a blog post on January 27 that Monica Long has been elevated to the role of President, after her tenure as senior vice president and general manager.
According to the business, Long was essential in helping Ripple achieve a good financial position despite fluctuations in the cryptocurrency industry.
Long said, “I am tremendously thrilled to assume the job of President at Ripple as we grow our crypto-enabled services, such as liquidity, settlement, and custody.”
Long had a major role in the introduction of the On-Demand Liquidity (ODL) product, which is used to facilitate international trade. Ripple is now able to conduct $30 billion worth of cross-border transactions due to the success of this effort.
The CEO of Ripple, Brad Garlinghouse, said that Long has been a crucial counsel to him over several periods of the cryptocurrency business.
Ripple’s management is under close watch as the firm waits for the outcome of the SEC complaint accusing it of selling unregistered securities in the form of XRP tokens. Notably, the decision of the lawsuit is anticipated to have an influence on the corporation as well as the crypto industry as a whole.
However, the company’s leadership under Garlinghouse is confident in its ability to prevail. According to the most recent update, parties and interested parties have submitted their last briefs, and the attention is now on the presiding judge. Although speculation over the various outcomes has intensified, legal experts argue that predicting the result of the case remains difficult since both sides have almost equal odds.
After the verdict, a potential settlement is one of the conceivable outcomes. John Deaton, an advocate for XRP, has predicted that the SEC and Ripple may reach a settlement to prevent additional challenges.
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.