According to a recent turn of events announced by Ripple’s official blog, Michael Warren has joined the payment firm to “move the needle” for the company and bring about a change in the terms of cryptocurrency regulation. as the battle between the payment firm and the Securities and Exchange Commissions continues.
Michael Warren Joins Ripple’s Board of Directors
Michael Warren is best known for his role as a former senior White House adviser during the first administration of former US President Barack Obama and he is also a managing director of Albright Stonebridge Group, part of Dentons Global Advisors where he is responsible for navigating businesses and businesses through regulatory landscapes. The official Ripple blog also added:
He joins Ripple with over 20 years of experience advising clients on international growth strategies, stakeholder management issues, and economic and geopolitical issues affecting global markets.
In his statement, Warren said he “has long admired the tenacity shown by Ripple and its management team, using regulatory setbacks in the United States as an opportunity to launch crypto regulation to benefit innovation from industry and to establish a level playing field for all. “His addition to the team could prove beneficial to the company in the long run.
$794 million in developer tokens
According to another report, Ripple is set to distribute nearly one billion of its XRP tokens to help project developers “create projects based on its payments-oriented distributed ledger.” Representatives for the payment solution spoke to The Information and said the funds would be distributed within the next 10 to 20 years.
Importantly, the company is making significant progress this year and it looks like the Ripple vs. SEC case could come to a successful conclusion this year by November 2022, as Kripteu Magazine reported.