Ripple Labs Welcomes New CFO and SVP
Ripple Labs, the crypto payment platform, has announced the promotion of two employees to executive positions. Jon Bilich has been named the new Chief Financial Officer (CFO) while Mariel Kelley has been upgraded to Senior Vice President (SVP), People and Places. Ripple CEO Brad Garlinghouse expressed his appreciation for their contributions to the company and stated that they both set a high standard for being a part of Ripple.
Expanding Ripple Ecosystem
The appointments of Bilich and Kelley indicate that the Ripple ecosystem is growing significantly. This expansion has been evident since Ripple’s partial victory against the United States Securities and Exchange Commission (SEC) last year. After Judge Analisa Torres ruled that XRP, the coin associated with Ripple, is not a security, Ripple gained attention from top crypto projects and traditional finance companies.
Potential IPO Plans
Despite its legal battle with the SEC, Garlinghouse hinted at Ripple Labs’ intention to explore the possibility of an initial public offering (IPO). It seems that the lawsuit with the SEC was the main obstacle in Ripple’s IPO plans. Reports suggest that discussions about an IPO took place at a private event held by Ripple in April 2023. The expectation was that Ripple would conduct the IPO before the end of that year, considering the favorable ruling in July.
However, in January, Garlinghouse announced that plans for an IPO in the United States were suspended due to the “hostile” regulatory environment. As a result, Ripple Labs started considering alternative markets for the IPO. The recent addition of Bilich and Kelley to its executive team could be part of Ripple’s restructuring plan to reenter the IPO landscape.
Hot Take: Ripple’s Road to an IPO
Ripple Labs has made strategic moves by promoting Jon Bilich to CFO and Mariel Kelley to SVP, People and Places. These appointments reflect the company’s expansion and growth in the wake of its legal victory against the SEC. With Ripple considering an IPO, these executive promotions may be part of the company’s efforts to strengthen its position for a potential public offering.
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