CEO of Ripple-owned blockchain storage firm Metaco steps down
Adrian Trecani, CEO of Ripple Labs-owned blockchain security firm Metaco, has left the company after more than eight years.
According to a February 12 Reuters report, Trekani was not the CEO of Metaco, the company he founded in Switzerland in 2015. At the time of publication, Trecanni's LinkedIn page showed he was leaving the company in 2023. Ripple acquired Metacon for $250 million in May 2023, to provide its service to hold, issue and settle token assets.
A Ripple spokesperson told Cointelegraph, “We appreciate the strong and industry-leading security business Adrian and his team have built, as well as his leadership team and leadership in integrating the solution with Ripple over the past year.
Related: BBVA Moves Crypto Custody Service to Ripple-Owned Metaco's Harmonize
The United States Securities and Exchange Commission filed charges against Ripple in December 2020 for allegedly offering unregistered securities. Many in the crypto space have examined the issue for its potential impact on the country's regulation and policy of digital assets.
In the year In July 2023, a federal judge granted summary judgment to Ripple, ruling that the XRP token was only a security when sold to institutional investors. The case is expected to go to a jury trial in 2024. According to data from Cointelegraph Markets Pro, XRP traded at $0.53 at the time of publication.
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