Ripple Labs Member Elected to Federal Reserve Team
Ryan Zagone, whose title is Head of Research for the Business Development Team at Ripple Labs, was recently elected to work to work on a team within the Federal Reserve. The team is called the "Faster Payments Task Force Steering Committee," and Zagone's election is part of an ongoing effort on the part of the Fed to integrate members of private industry in its modernization efforts. Over 300 private companies have decided to take part in the FPTF, and of that wide group, a steering committee of sixteen people were selected. This is where Zagone comes in, representing Ripple Labs. As part....
Related News
Creators of the Ripple payment protocol, Ripple Labs, have been elected to the Federal Reserve's Faster Payment Task Force Steering Committee. The Fed created the Faster Payment Task Force earlier this year to tackle the challenge of upgrading the United States' outdated payment infrastructure, which lags behind Europe, and, in some cases, emerging markets such as China. The committee will help execute and discuss a payment strategy laid out by the Fed earlier this year. The central bank's main goal is upgrading the country's domestic payment system used for e-check settlement, called the....
The short answer is, if you use the Ripple protocol for any purpose, not only can Ripple track you, but they see it as a feature, not a bug. In comments made to the California Assembly last month, Karen Gifford and Chris Larson of Ripple Labs, in essence, threw the baby out but attempted to purify the bath water. Gifford is no stranger to traditional banking, and Ripple famously hired her for her impressive resume which includes eight years as an active member of the litigation and enforcement group for the Federal Reserve Bank of New York. Her role as compliance officer should come as no....
Payment exchange network Ripple Labs recently appointed Norman Reed as its general counsel. A law graduate from Columbia University, Reed started his career at a large international firm where he worked for three years. He later joined the prestigious Federal Reserve Bank of New York, where he got to know Karen Gifford - Ripple Labs's Chief Compliance Officer, also a former New York Fed. "In the wake of BCCI - along with some other shifty things happening in the early 1990s in the banking industry - the Fed wanted to start up an enforcement group styled after the SEC enforcement group,"....
When it rains, it pours, especially when it is raining bad news. If Ripple investors didn't believe that before, they certainly do now. Just yesterday, CCN reported that Ripple Labs co-founder Jed McCaleb decided to sell the entirety of his XRP stock, which decreased the XRP exchange value by an astounding 40% in less than 24 hours. Now, a board member has resigned, leaving investors anxious about the company's future. Ripple Board Member Jesse Powell Resigns in the Wake of Founder Sell-Off. In the wake of the troubling news about McCaleb's XRP liquidation, Ripple board member Jesse Powell....
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....