Ripple Labs, the payments platform, has recently appointed a new president amidst the ongoing lawsuit by the U.S. Securities and Exchange Commission (SEC).
In a company blog post, Ripple announced the promotion of Monica Long, the firm’s senior vice president and general manager, to the position of president.
According to Ripple CEO Brad Garlinghouse, Long has been an instrumental figure in the company’s growth and financial stability, even in the challenging crypto environment.
Long, who joined Ripple in 2013 with just 10 employees, has served as general manager since 2020 and is excited to take on her new role as president.
The SEC lawsuit, which was filed in December 2020, alleges that XRP was issued as an unregistered security.
Garlinghouse has stated that the chances of settling with the SEC are virtually “zero” and that a decision from the judge is expected in 2023. The CEO is optimistic that the lawsuit will be concluded in the next few months.
Long, who has spent over half of her professional career in the crypto industry, is eager to take on her new role as president of Ripple Labs and contribute to the company’s growth and success.
