CEO of Ripple-owned: In May 2023, Ripple bought the blockchain company Metaco for $250 million to grow its safekeeping services.
Adrien Treccani, the boss of Metaco, a company owned by Ripple Labs that deals with blockchain security, has quit after working there for over eight years.
A Reuters report from Feb. 12 said that Trecanni is not the CEO of Metaco anymore. He started the company in Switzerland in 2015. His LinkedIn page said he left the company in 2023. In May 2023, Ripple bought Metaco for $250 million to grow its business in taking care of, creating, and settling digital assets.
“We’re thankful for the top-notch custody business that Adrien and his team created. We also value his role in merging the custody team and services with Ripple after we bought it last year,” said a spokesperson from Ripple to Cointelegraph.
In December 2020, the U.S. government agency responsible for regulating the stock market sued Ripple for selling investments without proper permission. Many people interested in digital currencies are closely watching this lawsuit because it could affect how the U.S. controls digital money.
In July 2023, a judge decided without a full trial that Ripple did nothing wrong when it sold XRP tokens, but only when selling to big investors. This issue will be reviewed by a jury in 2024. At the time this was reported, the price of XRP was $0.53, based on Cointelegraph Markets Pro information.
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