Ripple Labs Appoints New President Amid SEC Lawsuit

The selection of Monica Long as Ripple’s new President is a crucial move for the company.

Blockchain firm Ripple appointed a new president as it prepares for the Securities and Exchange Commission’s (SEC) lawsuit judgment.

According to a blog post published by Ripple on January 27, Monica Long has been moved to the position of president after serving as a senior vice president and general manager. San Francisco Business Times named Long as one of the most significant female figures in commerce and payments.

The firm claims that Long, who joined in 2013 has been crucial in assisting Ripple to achieve a good financial position despite changes in the cryptocurrency sector. Long was in charge of directing the business’s product, engineering, partnerships, marketing and developer relations in her prior position.

Long stated, “As we dive deeper into cryptocurrency-enabled services like liquidity, settlement and custody. I’m tremendously thrilled to take on the job of President at Ripple”.

Notably, Long has a key role in the introduction of the On-Demand Liquidity (ODL) product which is used for international transactions. The project has advanced to play a crucial part in Ripple’s ability to conduct $30 billion worth of cross-border transactions.

According to Ripple CEO Brad Garlinghouse, in different stages of the cryptocurrency market, Long has served as an important advisor to him.

In fact as the company waits to hear the outcome of the SEC lawsuit accusing it of selling unregistered securities in the form of XRP coins, attention has shifted to Ripple’s management. Notably, the company as well as the overall crypto industry is expected to be impacted by the decision of the case.

The company’s management under Garlinghouse has, nonetheless, expressed confidence in winning the case.

According to a recent report, the focus is now on the presiding judge following the parties and interested entities’ final briefings. Legal experts have maintained that predicting the case outcome is still difficult because both parties have an equal probability of succeeding, despite the fact that there is more speculation about the potential outcomes.

A potential settlement following the verdict is one of the possible outcomes. John Deaton, a lawyer who supports XRP, in particular, predicted that both the SEC and Ripple could seek a settlement in order to prevent further appeals.

A crucial move for the company as it grows and expands in the blockchain and payments space is the selection of Monica Long as Ripple’s new President. Long is well-suited to oversee Ripple’s global operations and promote the company’s expansion and innovation, thanks to her experience and qualifications. With Long in charge, Ripple is positioned for a bright future.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing