Ripple Appoints a New President Amid Battle with SEC.
Monica Long, the newly-appointed president, has been with the company for over nine years.
Ripple, the American technology company behind the Ripple blockchain and its native token XRP, has appointed a new president in the person of Monica Long. This development comes up amid the company’s heated legal battle with the U.S. Securities and Exchange Commission.
The appointment was disclosed by Ripple in an official press release on Thursday, and further publicized through its Twitter handle today.
Starting the year off on a high note – we are excited to share that longtime Rippler and GM @MonicaLongSF is now President! Read more about her appointment. https://t.co/VDGjHwg9Qc
— Ripple (@Ripple) January 27, 2023
Long has been with Ripple for over nine years, having joined the firm as Director of Communications in September 2013. She entered the scene when the Ripple workforce comprised only ten employees, according to the press release. Long reportedly championed several initiatives that helped push Ripple forward, working with regulators and getting the trust of global financial institutions.
“Even in the current challenging crypto environment, Monica has helped guide Ripple to a very unique place of growth and financial strength. She’s been an instrumental adviser to me over the years and I’m grateful to have the opportunity to partner with her even more closely as she embarks on her role as President,” Brad Garlinghouse, Ripple’s CEO, remarked.
Garlinghouse further acknowledged, in a tweet today, that Long has been one of the major catalysts of Ripple’s growth over the years, highlighting her brilliance and effectiveness.
There’s a lot I could say about how singularly impactful @MonicaLongSF has been to Ripple’s growth, for now, I’ll just leave you with – she is brilliant, strategic and has the ability to pick up and learn skills like no one I’ve ever seen before. Congrats Monica! https://t.co/VfumH7n8IE
— Brad Garlinghouse (@bgarlinghouse) January 27, 2023
Long and her team were responsible for the launch of the widely-utilized Ripple On-Demand Liquidity (ODL) enterprise crypto network in 2018. ODL, which is touted as Ripple’s flagship product, is utilized by global entities and governments to facilitate cross-border settlements.
Promoted to General Manager in August of 2020, Long spearheaded CBDC partnerships with Bhutan and Palau, and the launch of the first stage of Ripple’s EVM sidechain. The introduction of NFTs on Ripple was also overseen by her. Moreover, the San Francisco Business Time has named her one of the most influential women in business.
Ripple Grows Despite Legal Battle with SEC
The recent development comes up amid Ripple’s long-standing legal battle with the SEC which has done little to stunt the technology company’s growth. Optimism is dominant in the Ripple camp, as several individuals, including CEO Garlinghouse, remain confident of a favourable ruling. Garlinghouse also believes the case is likely to end in the first half of the year.
Most recently, Investment Banker Declarant – a non-party in the litigation – filed a response to Ripple’s opposition to their initial request to redact their personal information from a declaration in support of the SEC.