Ripple CFO Kristina Campbell quits amid legal victories
Kristina Campbell, the Chief Financial Officer (CFO) of Ripple Labs, has decided to leave the company to join a healthcare company in a different industry. She served as the CFO during a challenging period marked by legal battles with the U.S. Securities and Exchange Commission (SEC).
Campbell announced her resignation from Ripple via a LinkedIn statement on October 9. She joined Ripple in April 2021, which was a challenging time for the company as it faced legal proceedings initiated by the SEC.
“A big thank you to everyone at Ripple who made the last few years so memorable. I’m thrilled to share that I will be joining Maven Clinic as CFO. Throughout my career, I’ve seen firsthand how technology can make people’s lives better, and Maven is proving that every day at the forefront of healthcare,” Campbell stated in a LinkedIn post.
Kristina Campbell has a background in fintech and has held various financial roles in technology companies. Before joining Ripple, she served as the CFO for PayNearMe, a payment and financial services company. Per her Linked profile, she played a critical role in growing the company, leading strategic financial initiatives, and establishing core financial practices.
While Campbell did not provide specific reasons for her departure, it indeed coincides with a period of important developments and legal progress for Ripple. The company has achieved several legal victories, and there has been growing clarity around the regulatory status of its XRP cryptocurrency.
Most recently, the SEC failed in its attempt to overturn a judge’s recent ruling on Ripple’s sales of its XRP cryptocurrency. The same judge who previously ruled in July that Ripple’s sale of a cryptocurrency token to consumers wasn’t unregistered securities offering, determined that the SEC had not presented enough evidence to demonstrate flaws in the original decision. The SEC had sought to overturn the ruling before a final judgment is made in the case, which is expected next spring.
This development represents yet another minor victory for Ripple in its ongoing legal battle with the SEC. The SEC still has the option to appeal Judge Torres’ decision, but it can only do so after the case officially concludes, which is expected after a trial on remaining issues scheduled for next April.
These developments may have contributed to a sense of stability within the organization, possibly facilitating transitions like Campbell’s move to the healthcare industry.