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Ripple appears to have lost its second 2020 executive after XRP Markets chief Miguel Vias updated his LinkedIn status to signal the end of his tenure with the company.
Vias joined Ripple in late 2016 after a five-year role as CME Group’s global head of precious metals options. In his three and a half years at Ripple, Vias was tasked with devising a partnership strategy for xRapid and oversaw XRP’s sales of over $ 1 billion.
Miguel Vias’s LinkedIn status shows the end of his 3.5-year tenure at Ripple. Source: LinkedIn
The sudden end of his employment at Ripple was not formally announced by the company and Vias did not respond to Cointelegraph’s request for comment.
Rumors of Vias’ departure from Ripple have been circulating on XRP boards since the summer of 2018. Ironically, the last message Vias ever posted to his Twitter The profile is from November 14, 2019, where he informed followers that he was still at Ripple and had no intention of leaving.
The latest tweet sent by Vias was a reminder that he was still working for Ripple and had no plans to leave. Source: Twitter
According to his LinkedIn profile, Vias was at the helm of XRP Markets for one of the most fruitful periods in the history of the coin. Just over twelve months after joining, XRP hit an all-time high of $ 3.84 in January 2018. XRP’s quarterly sales increased for much of 2018 and 2019, however the fourth quarter of 2019 saw a 80% decrease from sales in the previous quarter.
Executive Turnaround at Ripple
Some older web documents still reference Vias’s previous job title at the company: Head of Ripple Markets. The terminology has changed since 2018, as regulatory concerns have seen Ripple (the company) attempting to separate itself from XRP (the coin).
Numerous Ripple executives left the company during that time, including Cory Johnson, Dan Morgan, and Catherine Coley, who is currently CEO of Binance.US. Internet chatter has speculated that concerns about XRP’s safety status were the reason behind the departures, however, no clear signs have emerged that this was the case.
On January 2, 2020, engineer Evan Schwartz announced his departure from Ripple after six and a half years with the company. The Ripple veteran led the creation of the Interledger Protocol (ILP), the technology behind the XRP blockchain.
Recently, Ripple Labs and its CEO, Brad Garlinghouse, filed a lawsuit against Youtube for failing to stop a series of repeated “giveaway” XRP scams. Plaintiffs argue that Youtube knowingly helped scammers and contributed to irreparable damage to both Ripple Labs and Brad Garlinghouse’s image.
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