Ripple has had a big week, to say the least.
In the SEC’s case against Ripple, a judge will soon decide whether Ripple’s “fair notice” defense is valid. The company has been claiming for over two years that it could not have registered its XRP token, due to the lack of a clear definition from the SEC regarding the classification of cryptocurrencies as securities or commodities.
In the same case, Ripple notched a victory by getting the Himnan speech documents unsealed. These documents reportedly showed that the agency did not classify ether as a security at the time when the speech in question was delivered by former SEC official William Hinman over four years ago.
A day after the Hinman ruling, Ripple announced it was acquiring Metaco for $250 million in a likely play to move its business toward crypto custody.
In response, XRP has spiked nearly 8% in the last seven days.
Ripple has now added experienced financial executive Warren Jenson to its board of directors. Jenson served as the CFO for four different multi-billion dollar companies over the past 30 years, including Amazon, Delta Airlines, Electronic Arts and Nielsen.
Jenson expressed his enthusiasm at joining Ripple saying, “I’m excited to join Ripple at a pivotal time when cryptocurrency and blockchain technologies are increasingly becoming integrated into financial services,” according to a statement provided by Ripple. “For cryptocurrency to successfully deliver on its potential to revolutionize traditional financial infrastructure, companies in the space must prioritize transparency.”
He will join three fellow board members, including President Barack Obama’s US Treasurer Rosie Rios, former JPMorgan Chase executive Sandie O’Connor and Managing Director of Albright Stonebridge Group Michael Warren.
Bitget still on the hunt for employees
“We still have 300 openings in R&D, compliance, BD, operations and customer support,” the May 17 report said.
Less than a month later, the report shows that little progress has been made toward that goal, although Bitget did double its workforce in 2022 to 1,300 employees.
Blockworks previously reported that Bitget introduced a $200 million protection fund in August 2022. This fund aims to safeguard investors from potential hacks and thefts, and custodies both bitcoin and tether.
Other notable hires
- Australian bitcoin miner Mawson Infrastructure Group hired Sandy Harrison as the Vice President of Investor Relations. Among other things, Harrison will be responsible for the company’s engagement strategy on ESG initiatives.
- Shima Capital, a Web3 venture capital firm, brought on Brandon Stahl as its new Chief Financial Officer in April and announced the move this week.
Get the day’s top crypto news and insights delivered to your email every evening. Subscribe to Blockworks’ free newsletter now.
Want alpha sent directly to your inbox? Get degen trade ideas, governance updates, token performance, can’t-miss tweets and more from Blockworks Research’s Daily Debrief.