Ripple’s chief market strategist Cory Johnson discharged, report
Ripple’s Chief marketing strategist, Cory Johnson, has been discharged from the company. According to a report, Ripple spokesperson told the media that the company had eliminated the role of market strategist and therefore had to let go of Johnson.
“Cory’s last year at Ripple was a success in representing the company to investors, press and regulators. Cory helped the blockchain startup with strategy internally and overall industry education. But due to changes in market conditions, we’ve chosen to eliminate the role of Chief Market Strategist,” a spokesperson said.
Johnson joined Ripple in 2018 after an eight-year-long stint at Bloomberg. Johnson’s job was to make the public and Wall Street firms know about Ripple and also make people comprehend the relationship between Ripple and XRP. At the time of his hire, Johnson explained to CNBC that his role at the company was “to try and explain, listen and set strategies to make it easy for Wall Street and the world of finance to understand what we’re doing.”
XRP, the native digital currency of Ripple, has had a troubled past. Many argued that XRP is a security rather than a cryptocurrency. Coinbase one of the largest crypto exchanges has shunned XRP listing because of its dubious nature. SEC is yet to classify the nature of the cryptocurrency. Cory Johnson along with Ripple CEO, Brad Garlinghouse, has repeatedly argued that XRP is a cryptocurrency and not a security. They also rebranded XRP so that the company and the native digital currency will be identified separately and not as Ripple [XRP].
Ripple is a blockchain startup known for its high profile partnerships. It has signed partnerships with major banking giants including SBI Holdings, Japan. Also, several of their products including xRapid and RippleNet are being explored by major industrial players. RippleNet, a payment network, facilitates cross border payments in seconds, unlike other cross border payment services. Also, the network boasts low transactions fees which have attracted a great number of financial institutions to the network. The company has become the pioneer of executing cheaper and faster cross border transactions on the blockchain.
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