Crypto Firms Hire Former Regulators: Ripple Labs and Kraken Appoint New Employees

Cryptocurrency companies are hiring former regulatory agency employees to strengthen their relationships with government entities. Ripple Labs, while continuing its legal dispute with the U.S. Securities and Exchange Commission, has appointed Lauren Beliv, a former Obama administration official, as its Head of Government Relations in the United States. Beliv will play a key role in establishing national-level connections and protecting Ripple's interests in Washington, where the regulatory framework for the cryptocurrency industry continues to evolve.

Kraken, a leading cryptocurrency exchange, has also brought in a blockchain expert, Dina Mainville, to work in its Canadian subsidiary. Mainville is a member of the Canadian Blockchain Consortium and specializes in blockchain technologies and digital assets. Her experience in advising Fortune 500 companies on blockchain initiatives and training law enforcement agencies in cryptocurrency-related investigations makes her a valuable asset for Kraken in compliance matters.

PayPal has appointed Alex Criss as CEO and President, who will oversee the implementation of the PayPal PYUSD stablecoin. Swan Bitcoin, a platform for trading only Bitcoin, has recruited professional basketball player Matthew Dellavedova as Vice President of Business Development. These changes indicate growing interest in cryptocurrencies and blockchain among major players in the financial market and the sports industry.

Despite hiring new employees, several crypto firms are facing layoffs. Epic Games has laid off 830 employees, which accounts for 16% of the company's total workforce. These measures may be related to changes in the company's strategy or an attempt to optimize operations.