Ripple, a US-based crypto firm, revealed that it is opening its first office in Canada, it’s a new office in Toronto. In a news release, the company stated that the office will be an engineering hub and will assist in its growth in North America.
On Wednesday, the firm intends to onboard 50 engineers in Toronto with the aim to build a team of hundreds of blockchain software engineers, among which are also included data scientists, applied machine learning scientists, and product managers.
CEO of Ripple, Brad Garlinghouse, said that blockchain technology and crypto offer an amazing technology to solve difficult issues, and in turn, these solutions can affect the movement of value around the world.
Meanwhile, a major layoff trend is becoming popular among crypto firms, Ripple focuses on onboarding talented individuals that can bring about innovation in the coming future, read the statement.
Further, the statement said that the new office in Toronto strengthens Ripple’s connection with a region that is already a tech hub, enabling it to pick up local talent and hire engineers to enhance crypto innovation.
Ripple is fighting an ongoing case with the SEC. It was started when the U.S. watchdog alleged the crypto platform failed to register XRP worth roughly $1.4 billion as securities
There is a new development in the case every week. Currently, SEC is targeting the Amici motion. The XRP holders have experienced heavy losses for months now caused by the SEC through its case with Ripple
Plaintiff noted ‘Exhibit’ mentioning the objection to the Ripple Defendants’ Motion. ‘Judicial document’: a portion of the expert’s deposition transcript, as of 18th June.
Similarly, it submitted arguments to refute Exhibit O regarding the amici’s desire to take part in the SEC expert challenge.
The Ripple Defendants filed their proposed redactions under seal as a response to the SEC’s opposition. In addition, It encouraged the amici motion to participate in the expert challenge. A well-known lawyer, James Filan, presented recommended redactions in a letter that was publicly filed by the SEC.
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Source: https://www.thecoinrepublic.com/2022/06/27/ripple-to-hire-50-engineers-in-its-first-office-in-canada-aims-to-bring-innovation/