Ripple-owned crypto custody firm Metaco's CEO departs

FILE PHOTO: A representation of cryptocurrency Ripple is seen in this illustration taken August 6, 2021. REUTERS/Dado Ruvic/Illustration/File Photo

(Reuters) - Crypto custody firm Metaco's CEO Adrien Treccani has left the company, a Ripple Labs spokesperson told Reuters on Monday.

Cryptocurrency company Ripple bought Switzerland-based Metaco for $250 million in May last year, in its first major acquisition.

Investor interest in the crypto sector has gained momentum after the U.S. Securities and Exchange Commission approved 11 spot bitcoin ETFs, following a decade-long tussle with the digital asset industry.

Privately owned Ripple earlier this month was valued at $11.30 billion, after it bought back its shares worth $285 million from its early investors and employees, Reuters reported citing sources.

(Reporting by Arasu Kannagi Basil and Jaiveer Singh Shekhawat in Bengaluru; Editing by Vijay Kishore)

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