Ripple Labs Inc, the American blockchain payments firm, bids farewell to its Chief Financial Officer (CFO), Kristina Campbell.

Her LinkedIn profile now reflects her new role as CFO at Maven Clinic, a virtual healthcare provider focused on women and families.

Kristina's profile

Kristina, who holds a Harvard education and has several years of experience in financial services, joined Ripple in April 2021.

Her tenure as Ripple's CFO spans approximately 2 years and 7 months.

During her time at Ripple, she played a significant role in the company's financial management, especially amidst the ongoing lawsuit with the United States (US) Securities and Exchange Commission (SEC).

While her role may have seemed somewhat passive, her oversight encompassed crucial financial decisions.

Earlier this year, Ripple CEO Brad Garlinghouse disclosed that the legal expenses incurred due to the SEC's actions amounted to $200 million.

Although these expenses have yielded some favourable results, with a partial ruling in Ripple's favour regarding XRP, the impact remains profound, and a trial is scheduled for the next year.

Kristina also oversaw Ripple's acquisition of Metaco, a Swiss-based institutional crypto asset service provider, for $250 million.

This marked Ripple's first major M&A activity in years.

Ripple Already In Search Of New CFO

A Ripple spokesperson expressed in an email:

"We're grateful for Kristina’s leadership over the past 2+ years and her contributions to the company as we've experienced strong global momentum, business growth and navigated regulatory headwinds. Ripple remains in strong financial standing and is laser-focused on its continued success in key markets around the world."

Crypto Market Sees More Layoffs

The crypto market has experienced significant volatility, driven in part by a prolonged bear market, leading to layoffs in various companies.

Ripple, on the other hand, has been expanding its presence in markets outside the US, particularly in the Asia Pacific region.

Ripple Labs has witnessed a revolving door of top executives, particularly in its legal team.

While this trend has raised concerns in the community, it is worth noting that such leadership changes are not unique to Ripple, as other organisations like Binance Exchange have faced similar challenges in recent times.