Ripple Doubles In-House Legal Firepower Amid Crypto Craze
The new slate of in-house lawyers includes former GCs of PayPal and Lumos Labs aka Lumosity.
March 30, 2018 at 05:49 PM
4 minute read
Crypto company Ripple Labs Inc. has hired three new lawyers this year, including two former GCs.
The hires come amid substantial growth at the San Francisco-based company and a surge of public interest in cryptocurrency markets as a whole.
John Muller, one of the two deputy GCs at Ripple, joined the company this month. Muller was the longtime GC for PayPal Inc. from 2000 to 2013. One of his former employees at PayPal just happens to be Ripple's General Counsel Brynly Llyr.
Llyr leads the legal department of six lawyers at the company that created cryptocurrency XRP. She said that although it isn't that common to become the boss of your own former boss, the team is collaborative and isn't focused on titles.
“I stayed in touch with John through the years at eBay and PayPal and after, and when I found out he was considering a full-time legal job, I thought that lined up really well,” Llyr said in an interview Friday. “It was a pleasant surprise.”
Ripple's second deputy GC is Sameer Dhond, who most recently served as general counsel of brain training company Lumos Labs, also known as Lumosity.
Llyr said she had no connection to Dhond before his hiring. He applied online and she said once she and the team met him, they thought he was a “great find” and has since “been able to really add value.”
Dhond will work on various deals and provide commercial support to Ripple, Llyr said.
The company also hired Deborah McCrimmon, a longtime DLA Piper attorney, in January, as senior counsel.
“I knew her work through friends of friends in the area, and I wanted to bring in someone who had a deep background in litigation but who wanted to broaden their career as an attorney at a startup,” Llyr said.
McCrimmon will take the in-house lead with ongoing litigation at Ripple such as its legal battle with blockchain software firm R3 over an agreement on the purchase options of XRP tokens.
Largely, the legal department's backgrounds are in the technology or payments space. Llyr said that because virtual currency is such a new sector, “no one has a deep digital asset background, and I think that's perfectly fine.”
She explained, “I wanted to put together a team of skilled lawyers who have dealt with a lot of issues so we can weave together a holistic approach for how we think about risk, what laws should apply. It's helpful to have folks with different backgrounds.”
Llyr added that Ripple is willing to sit down and work with regulators and discuss how the law applies to the company and its high-tech products.
“We're different than some actors who think, 'we have new technology and therefore no new laws apply,'” she said.
In addition to the three recent hires, Llyr anticipates more in-house lawyers will be added this year as the industry sees more intense oversight from regulators and as Ripple continues to add on to its more than 100 existing partnerships with financial institutions such as Santander and American Express.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllTrump Mulls Big Changes to Banking Regulation, Unsettling the Industry
SEC Issues $6.75M Fine Against Financial Firm Led by Trump's Choice to Lead Commerce Dept.
3 minute readAs AI-Generated Fraud Rises, Financial Companies Face a Long Cybersecurity Battle
CFPB Orders Big Banks to Limit Overdraft Fees to $5. But Will Its Edict Stick?
3 minute readTrending Stories
- 1Call for Nominations: Elite Trial Lawyers 2025
- 2Senate Judiciary Dems Release Report on Supreme Court Ethics
- 3Senate Confirms Last 2 of Biden's California Judicial Nominees
- 4Morrison & Foerster Doles Out Year-End and Special Bonuses, Raises Base Compensation for Associates
- 5Tom Girardi to Surrender to Federal Authorities on Jan. 7
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250