Ripple Labs Names Former Obama Advisor to Board of Directors

Ripple Labs has named former National Economic Council director Gene Sperling to its board of directors.

Jan 20, 2015 at 10:55 p.m. UTC
Updated Sep 11, 2021 at 11:27 a.m. UTC

Ripple Labs has named a former economic advisor to both former President Bill Clinton and current President Barack Obama to its board of directors.

Gene Sperling served as director of the National Economic Council during the Clinton years. He was later made head of the economic advisory group under Obama after serving as an advisor to then-Treasury Secretary Timothy Geithner. He resigned from the directorship of the NEC in March of last year.

In a statement, Sperling said that he looks forward to helping promote the Ripple network on a broader scale, noting:

"I am excited to join Ripple Labs and their mission to dramatically increase the speed and efficiency of cross-border payments through a common Internet protocol.”

“As a respected leader on economic issues,” Ripple Labs CEO Chris Larsen added in a statement, “[Sperling's] experience and insights will be critical in building on our recent momentum gaining traction with financial institutions and network operators."

The appointment follows a busy period for the company, during which it inked partnerships with several US-based banks as well as the global payments firm Earthport. The company’s 20th January announcement suggests that Sperling will play a role in Ripple Labs’ continuing effort to partner with companies in the traditional finance space.

About Sperling

Among the initiatives that Sperling worked on during his White House years were efforts focused on deficit reduction and child healthcare reform. He also served as a chief negotiator during budgetary talks with Congress for both administrations.

Sperling helped pass the Gramm-Leach-Bliley Act of 1999, which deregulated the American banking, financial and insurance industries and has been suggested by some to have laid the seeds for the housing boom and subsequent financial panic of the late 2000s.

Prior to serving as NEC director under Obama, Sperling was an advisor to Secretary Geithner during the 2009 US auto industry bailout and was also involved in economic and financial policy formation prior to his appointment to the NEC, according to his official White House biography.

Beyond his work in the White House, Sperling was chief economic advisor to former Secretary of State Hillary Clinton's 2008 presidential bid.

Image via Wikimedia

The Festival for the Decentralized World
Thursday - Sunday, June 9-12, 2022
Austin, Texas
Save a Seat Now

DISCLOSURE

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Trending

1
CoinDesk - Unknown
San Francisco NFL Player Alex Barrett Taking His Salary in Bitcoin

The most valuable crypto stories for Thursday, May 20, 2022.

The most valuable crypto stories for Thursday, May 20, 2022.

CoinDesk - Unknown
2
CoinDesk - Unknown
Justin Sun Still Thinks Algorithmic Stablecoins Are a Good Idea

The crypto mogul also said LUNA and UST might make good "meme coins," he said on CoinDesk TV’s “First Mover.”

The crypto mogul also said LUNA and UST might make good "meme coins," he said on CoinDesk TV’s “First Mover.”

CoinDesk - Unknown
3
CoinDesk - Unknown
Former BitMEX CEO Arthur Hayes Sentenced to 2 Years Probation

Hayes pleaded guilty to one count of violating the Bank Secrecy Act (BSA) in February, and faced a sentence of up to 12 months in prison.

Hayes pleaded guilty to one count of violating the Bank Secrecy Act (BSA) in February, and faced a sentence of up to 12 months in prison.

CoinDesk - Unknown
4
CoinDesk - Unknown
Market Wrap: Cryptos Decline Amid Choppy Trading, DeFi Tokens Underperform

Aversion to risk remains as volatility returns to stocks and cryptos.

Aversion to risk remains as volatility returns to stocks and cryptos.

CoinDesk - Unknown