Ripple, the blockchain-based payments platform, has appointed Warren Jenson as the new Chief Financial Officer (CFO) to its board of directors. Jenson, who is also the CFO of market researcher Nielsen, will lead Ripple’s audit committee and oversee the auditing process of Ripple’s operations. The announcement came in a press release by the crypto firm on Friday.
Brad Garlinghouse, CEO of Ripple, stated that Jenson’s background would be invaluable as Ripple continues to be a responsible global leader in the space. He said, “Ripple is in the midst of unprecedented scale, and Warren’s background will be invaluable as Ripple continues to be a responsible global leader in the space.”
Jenson expressed his excitement to be a part of Ripple and share Ripple’s commitment to upholding the highest standards. He also added that for cryptocurrency to deliver on its potential to revolutionize traditional financial infrastructure, companies in the space must prioritize transparency.
Jenson joins the board with several prominent figures, including former US Treasurer Rosie Rios, former JPMorgan Chase Chief Regulatory Affairs Officer Sandie O’Connor, and Managing Director of Albright Stonebridge Group Michael Warren.
Ripple has been in a long-standing dispute with the SEC since 2020 when the agency accused the company, along with Garlinghouse and co-founder Christian Larsen, of raising $1.3 billion through the sale of XRP. A decision is still expected this year.
However, a judge ruled earlier this week that the SEC could not seal certain documents in connection with a 2018 speech from the agency’s former director Bill Hinman. In the infamous speech, the former Corporate Finance Director expressed his own views and not that of the SEC. He said that if a digital asset were to be “sufficiently decentralized,” they may no longer be a security, which could be beneficial to Ripple’s case.
The SEC argued that the documents should be sealed due to the “clear lack of relevance of these documents to the summary judgment motions” and because their disclosure “would be highly prejudicial to the SEC,” according to the filing. However, the judge disagreed, allowing Ripple to use Hinman’s speech as evidence in their ongoing case.
Ripple has appointed Warren Jenson, the CFO of market researcher Nielsen, as the new CFO to its board of directors. Jenson will lead Ripple’s audit committee and oversee the auditing process of Ripple’s operations. Ripple’s ongoing legal dispute with the SEC regarding the sale of XRP continues, with a decision expected this year.