TL;DR
- Navin Gupta, Ripple’s Managing Director for South Asia and MENA, left the firm.
- His exit occurs ahead of an upcoming trial with the US SEC. Meanwhile, Ripple continues to expand its team with new roles in various locations.
Navin Gupta – Managing Director of South Asia and MENA at Ripple – resigned from his position on January 31 “to embark on a new adventure.”
After ~7 years at @Ripple, it’s time to say goodbye and embark on a new adventure. Grateful to work with Ripplers in building the Internet of Value. A big thank you to @chrislarsenSF for your vision, and @bgarlinghouse + @monicalongSF for leading us.
— Navin Gupta (@navinblockchain) January 31, 2024
Numerous X users thanked Gupta for his contribution to the crypto industry over the years and praised his success at the helm of Ripple’s department.
His departure comes less than three months before the start of the Ripple vs. SEC trial, the peak of the legal battle between the two entities that dates back to 2020.
Back then, the regulator accused the firm of illegally raising more than $1.3 billion in an unregistered securities offering by selling XRP tokens.
Last year, Judge Analisa Torres ruled that Ripple’s programmatic sales to secondary trading platforms do not constitute offers of investment contracts. Shortly after, the company secured two more partial court victories and seemingly has the upper hand in the lawsuit.
As CryptoPotato reported earlier this week, Ripple plans to hire a Senior Software Engineer in Bangalore, India – a city under the responsibility of the now-former Managing Director Gupta.
Other open roles include a Senior Product Manager, DeFi (London), and a Senior Software Engineer (Toronto).
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Source: https://cryptopotato.com/this-ripple-exec-leaves-the-company-details/