Ripple CEO Chris Larsen to Donate 7 billion XRP to the Underbanked
Photo by _Mo. Ripple Labs has weathered a difficult week that seemed like it could only get worse. The company's co-founder publicly announced he was liquidating his XRP holdings, which caused investor panic and caused the price of XRP to drop over 50%. Soon after, a prominent Ripple board member resigned from the company, leaving behind some strong words for the Ripple leadership team. The company responded by sending him a cease and desist letter, which he posted online alongside an emotionally charged response. It seemed as though Ripple Labs was headed for a messy legal battle, which....
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The price of XRP is on the rise again following the resignation of a key Ripple Labs board member and subsequent charitable commitment by its CEO Chris Larsen. Late last week, Kraken CEO Jesse Powell resigned from the board of the San Francisco-based payment network provider. However, the decision also returned attention to a long-contentious issue surrounding the company, the allocation of large portions of Ripple's native currency - XRP - to founders. As a result of the decision, Ripple Labs CEO Chris Larsen has committed to donate large portion of the digital currency he owns to a....
Ripple Labs cofounder Chris Larsen has a bone to pick with bitcoin and crypto networks that leverage proof-of-work (PoW). Larsen’s latest write-up explains that the crypto industry needs to reconsider PoW because of the effects on the environment. The Ripple executive believes that other types of consensus algorithms have been effective at being secure while only “using a tiny fraction of the energy.” Ripple Cofounder Believes Crypto Networks Leveraging Proof-of-Work Should Consider Alternatives While the global economy struggles after a year of Covid-19 lockdowns and....
Ripple to get a new CEO in the form of Brad Garlinghouse as Chris Larsen plans to step down from his current position by the end of this year. Ripple Labs, a blockchain-based payment company, will soon have a new CEO. The impending change of guard was announced earlier today by the company. According to the brief, the chief executive officer and co-founder of Ripple, Chris Larsen will be replaced by the current president and chief operating officer Brad Garlinghouse at the end of this year. After giving up the mantle, Chris Larsen will continue to serve as one of the platform’s Board of....
There's soon to be a new man in charge of distributed ledger startup Ripple. Six years and almost $100m after CEO Chris Larsen joined the aspiring Swift alternative, he's handing over the reins to the company's president, Brad Garlinghouse. Larsen positioned the appointment as part of Ripple’s overall plans to grow, but both executives stopped short of saying it was part of an more formal exit strategy. Larsen told CoinDesk: "We’ve got this great position and now we want to jump to the next lily pad, which is scaling." In Larsen’s new role as executive chairman — an employee....
In December 2020, the US Securities and Exchange Commission filed a lawsuit against Ripple and its chief executives, Brad Garlinghouse and Chris Larsen. According to the SEC, Ripple traded $1.3 billion in their cryptocurrency XRP as a security without notifying the commission. Ripple and other parties have now rebutted the watchdog’s judgment with claims of […]