Amid legal action from the SEC, Ripple has pulled in fresh blood from Amazon to lead the tech team.
In a statement released today, Ripple CEO Brad Garlinghouse announced that former Amazon Vice President of Delivery Experience, Devraj Varadhan, has joined Ripple as the new Senior Vice President of Engineering.
Ripple’s all-star engineering team continues to grow – excited to welcome Dev as our new SVP of Engineering! https://t.co/OH5ceDOX4K
– Brad Garlinghouse (@bgarlinghouse) January 11, 2021
Varadhan has 15 years of experience at Amazon where he worked on software development for over a decade before becoming VP delivery experience. He also spent two years developing cloud and business software with Microsoft.
With Ripple, Varadhan plan Emphasize building ‘architecturally sound systems tailored to the needs of customers and businesses’.
Although the price of XRP returned to the $ 0.30 reach last week after a significant downturn in December, it has fallen below critical support levels again. At the time of writing, the token is trading at $ 0.28 after a decline of about 9% in the last 24 hours.
XRP’s volatility is attributed costs of the US Securities and Exchange Commission to Ripple, company co-founder Chris Larsen, and CEO Brad Garlinghouse in December.
The SEC accuses Ripple of conducting an “unregistered, ongoing offering of digital asset securities” through its XRP sales, with the allegations leading many crypto exchanges to stop listing or trading the token.
The commission’s case against Ripple will start with a virtual pre-trial on February 22.