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Ripple's General Counsel Exits Startup, Spokesperson Says

Ripple's General Counsel Exits Startup, Spokesperson Says
By: coindesk.com Posted On: September 07, 2018 View: 9

Ripple's General Counsel Exits Startup, Spokesperson Says

Ripple general counsel Brynly Llyr has exited the blockchain payments startup, a spokesperson told CoinDesk on Friday.

Llyr joined the company in 2016 as its top legal officer, remaining a part of the team for two and half years. While no reason was provided for her departure, a Ripple spokesperson told CoinDesk that her leaving was a "mutual decision" between her and the firm. Quartz first reported the news.

The spokesperson added in a statement:

"We're grateful to all that she did to help build an incredible team that will continue the work they've been focused on for the past year and beyond. We wish Brynly all the best in her next endeavor and the team here at Ripple looks forward to the next chapter where we will continue to pave the way in this ever-evolving and unchartered industry."

Prior to joining the firm, she "advised fintech companies ... [and] led litigation teams and partnered on matters including commercial deals, [mergers and acquisitions] and [intellectual property] protection" with PayPal and eBay, according to her company biography.

The news comes as Ripple prepares to fight multiple class-action lawsuits claiming the XRP token is a security distributed by the company.

As previously reported by CoinDesk, a number of investors have sued the company, claiming Ripple bears some responsibility for the drop in XRP's price over the last year. To help defend it, Ripple has brought in some legal heavyweights, including former SEC chair Mary Jo White.

The company has already won a number of procedural victories, with one district court-level case being voluntarily dismissed and two superior (lower) court-level cases being consolidated late last week.

However, the company has yet to have a hearing or trial on the underlying claims for any of the suits.

Ripple image via Shutterstock

The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.

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