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Ripple Labs Director of Engineering, Nik Bougalis, is leaving the company after nearly a decade. He is the latest longtime cryptocurrency executive to leave the field.
Bougalis said in a tweet dated October 22nd: I had to work towards a goal I believed in and a project I loved. However, the trip will come to an end in a few weeks. ”
“good thing”
my ten year journey in @ Ripple It was great (if you get too exhausted to consume it all).
I had to work towards a goal I believed in and work on a project I loved.
However, the trip will come to an end in a few weeks.
(@nbougalis) October 21, 2022
Interestingly, the Ripple developer has said that he has no plans to join another blockchain project or company next.
“What’s next? I’ll tell you when the time comes, but I’m not involved in another blockchain project/company or doing NFTs or DeFi.
Bougalis has a long background in software engineering and cryptography, working primarily on open source code projects for XRP Ledger (also known as XRPL) payments at Ripple.
One of Ripple’s major recent developments that Bougalis has supervised An XLS-20 amendment that sees the introduction of non-fungible tokens (NFTs) to XRPL. Reportedly there were some early bugs, requirement As a resolution, the upgrade is reportedly set to be completed in early November.
The cryptographer went on to put forward the idea that Ripple would work just fine without him.
Its long-term health and success does not depend on any particular person. .”
Related: Ripple’s $250M funding backs Web3 project focused on ‘entertainment and media’
The blockchain sector has seen a number of top members leave the company this month, including Brian Roberts, Chief Financial Officer of NFT marketplace OpenSea.
On Oct. 21, Polkadot co-founder Gavin Wood also said he was in no position to find permanent happiness after ending his stint at blockchain infrastructure company Parity Technologies. .
Other high-profile executives who have followed the same route over the past few months include FTX US president Brett Harrison, Kraken CEO Jesse Powell, MicroStrategy CEO Michael Thaler, and Genesis Trading CEO. including Michael Moro, who is
More broadly, Ripple recently scored a notable victory in a lengthy legal battle with the U.S. Securities and Exchange Commission (SEC) over alleged XRP securities violations.
On October 21st, Ripple’s general counsel, Stuart Alderoty, revealed that the company has finally obtained important documents that could significantly strengthen its defenses against the SEC.
The document in question relates to a 2018 speech by former SEC division director William Hinman regarding the regulatory status of Ether, which the agency has long struggled to keep secret during legal disputes. .
