Ripple General Counsel Departs Cryptocurrency Firm Amid Class-Action Dispute over XRP
A top lawyer at cryptocurrency startup Ripple has left the company, a spokesperson confirmed on Friday. Brynly Llyr, who joined the San Francisco-based blockchain company in Nov. 2016 as the firm’s general counsel and has served in that role in the nearly two years since, is no longer with the organization. Llyr’s departure from Ripple was first reported by Quartz.
In a statement, a Ripple spokesperson confirmed the move and said that the blockchain firm was “grateful” for her work at the company. “We can confirm that Brynly Llyr has moved on from Ripple. 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.” Previously, she had managed “class action litigation and complex litigation” for eBay and also spent time at PayPal after it was spun off from the e-commerce giant, according to her LinkedIn profile. Llyr’s departure comes as Ripple prepares to defend itself against a variety of class-action lawsuits alleging that the XRP cryptocurrency — whose majority owner is Ripple — should be regulated as a security and that the firm’s distribution of XRP (which is often colloquially referred to as “ripple”) constitutes an illegal securities offering.