Adrien Treccani, the CEO of Ripple Labs-owned blockchain custody agency Metaco, has left the corporate after greater than eight years.
In response to a Feb. 12 Reuters report, Trecanni was not the CEO of Metaco, an organization he based in 2015 in Switzerland. Trecanni’s LinkedIn web page on the time of publication confirmed he left the agency in 2023. Ripple acquired Metaco in Could 2023 for $250 million, aiming to increase its companies for custody, issuance and settlement of tokenized property.
“We respect the sturdy and industry-leading custody enterprise that Adrien and his workforce constructed, in addition to his management in integrating the custody workforce and resolution with Ripple following the acquisition final 12 months,” a Ripple spokesperson advised Cointelegraph.
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America Securities and Alternate Fee filed a lawsuit in opposition to Ripple in December 2020 for allegedly providing unregistered securities. Many within the crypto area have scrutinized the case for its potential affect on the nation’s regulation and coverage of digital property.
In July 2023, a federal choose granted abstract judgment in favor of Ripple, ruling that the XRP token was solely a safety when bought to institutional traders. The case is predicted to go to a jury trial someday in 2024. In response to information from Cointelegraph Markets Professional, XRP traded at $0.53 on the time of publication.
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