Ripple CFO Kristina Campbell Departs Amidst SEC Legal Battle

Kristina Campbell, the Chief Financial Officer (CFO) for the cryptocurrency platform Ripple, has stepped down from her role with immediate effect to pursue a new path at Maven Clinic, a digital healthcare provider. Campbell, during her tenure of over two years at Ripple, was instrumental in managing the company’s financial affairs amidst a challenging regulatory landscape.

The shift in Campbell’s career path came up in October, revealed by her LinkedIn profile. Prior to joining Ripple in April 2021, she held the CFO reins at the payments platform PayNearMe for more than four years.

Acknowledging the transition on LinkedIn in a post dated October 7, Campbell shared her excitement about joining Maven Clinic. She comparably alluded to the stringency of the healthcare industry’s regulations with that of the fintech sector, specifically stating the role technology can play in enhancing people’s lives.

The timeline of Campbell’s resignation coincides with the ongoing legal tussle faced by Ripple with the United States Securities and Exchange Commission (SEC). The conflict, originating in December 2020, concerns the SEC’s lawsuit against Ripple over the sale of its XRP token. An appeal by the SEC in October tried to overrule a federal judge’s ruling that XRP did not constitute a security when sold to retail investors. The legal showdown is expected to kickoff in April 2024.

Ripple, in a recent statement, officially confirmed Campbell’s exit, expressing gratitude for the pivotal role played by her during a period of significant business growth, global momentum, and regulatory challenges. The company stood firm, emphasizing that it continues to maintain a solid financial state and remains undeterred in its pursuit of growth in key markets worldwide.

However, Ripple’s native crypto asset XRP currently trades at $0.4991, indicating a 2.23% drop within 24 hours. This downturn extends the overall negative trend of XRP over the past month.