According to a report from a local news source ‘Quartz’ on Sept. 7th, the general counsel of Ripple has resigned from her job which she had held since Nov. 2016. The Company in an interview with the Quartz confirmed this news.
Mentioning further ripple’s spokesperson said:
“We’re grateful for all that she didto assistbuildan incredible expertteam.Wewould like to wishBrynly allthe bestin her next endeavourand therefore theteam here at Ripple looks forward to a consequentchapter,wherewe willstillpave theapproachin thisever-evolving anduncharteredbusiness.”
According to yahoo finance, before working with RIpple,Brynlyreportedly servedforfour years in a renowned e-commercecompanycalled ‘eBay’ as senior director oflitigation. In 2015, sheswitchedto Paypal Holdings, Inc. as senior director of patents, M&A and technology.
Llyr steps down as Ripple wasinvolvedin alegal proceedingoverwhether or not the company’s token ‘XRP’ is related tosecurity as in May,an investorRyan Coffey initiateda legal lawsuitagainst Ripple.
Thelegal proceedingtargeted Ripple, its subsidiary XRP II, and Ripplechief operating officerBrad Garlinghouse, alleging that Ripple’s sale of XRP tokens violates U.S. securities laws. Coffey claimed thatwhile investing inXRP tokens, he lost around $552 USD,additionallystating that XRPisn’tgenuinelydecentralized.
The U.S. District Court of the Northern California eventually ruled to deny a motion to remand against the defendants.Within theruling the court found that, “The partiesfranklyadmit that theiranalysisfailed to turn up any case directly addressing this questionand therefore thecourt’s ownanalysisfared nobetter.”
Rippleis currently the3rd largest digital currency according to crypto market capitalization. XRP is currently trading at a price of around $0.293 USD today.