Ex-Ripple exec joins Algorand Foundation as CTO to reboot its L1 strategy
Former lead developer at the XRP Ledger , Nikolaos Bougalis, is joining the Algorand Foundation.
- Nikolaos Bougalis will join the Algorand Foundation as a CTO
- Bougalis is a former lead developer at XRP Ledger
- The appointment signals Algorand’s commitment to decentralization and compliance
Algorand has secured a rare L1-to-L1 executive jump. On Monday, September 29, the Algorand Foundation announced the appointment of Nikolaos Bougalis as its new Chief Technology Officer. The Foundation highlighted his blockchain experience, particularly his role as a former engineering lead at Ripple and lead developer of the XRP Ledger.
“Nik brings a wealth of experience in distributed systems, cryptography, and blockchain,” said Staci Warden, CEO of the Algorand Foundation. “He will help us double down on decentralization, performance, and security, solidifying Algorand’s position as the blockchain of choice for enterprise-scale blockchain applications.”
His appointment comes after the former Algorand Foundation CTO, John Woods, announced his stepping down from his role in May. Woods did not reveal why he stepped down, but stated he would continue working for the Foundation until a replacement has been found.
Algorand gears for 2025 roadmap, U.S. return to the U.S.
Bougalis’ appointment comes at a critical time for Algorand, the Foundation notes. For one, in July, Algorand released its 2025 technical roadmap , which includes Web3 core values, mainstream adoption, high-potential use cases, and bleeding-edge technology.
What is more, Bourgalis will be U.S.-based, which will help him guide Algorand’s planned relocation to the country, announced on August 11. In particular, the Foundation notes that he will support Algorand’s ambition to become a key blockchain infrastructure provider for U.S. enterprises.
Algorand Foundation is incorporated in Singapore. It previously faced regulatory scrutiny from the U.S. Securities and Exchange Commission, which named it as one of several crypto asset securities in other lawsuits. However, since the leadership change following the November 2024 elections, the SEC has taken steps to resolve its lawsuits.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Tokenized Stocks Face SEC Scrutiny: Balancing Progress and Compliance
- Nasdaq seeks SEC approval to trade tokenized stocks under existing regulations, proposing blockchain-based settlement while retaining traditional compliance frameworks. - The World Federation of Exchanges warns against crypto platform exemptions, urging safeguards to prevent unregulated tokenized securities from undermining investor protections. - SEC's December 4 advisory committee meeting will assess Nasdaq's blueprint, balancing innovation with risks of market fragmentation and offshore competition. -
Dogecoin News Today: Dogecoin ETF Breakthrough: Transitioning from Internet Meme to a Mainstream Investment Option
- Bitwise's DOGE ETF (BWOW) launches Nov 26, 2025, offering regulated DOGE exposure with 0.34% fee. - Dogecoin ranks 9th at $22B market cap, with $1B+ daily volume, driven by institutional adoption and SEC approval shifts. - ETF structure holds actual DOGE, aligning with Bitwise CEO's vision to democratize crypto access through transparency. - Grayscale's Zcash ETF filing and Mutuum Finance's $19M presale highlight growing altcoin institutional interest. - DOGE trades at $0.1503, consolidating in $0.13–$0.
Regulation and Innovation: SEC Examines Nasdaq’s Proposal for Tokenized Stocks
- Nasdaq seeks SEC approval for tokenized stock trading framework, aiming to modernize settlement while aligning with existing regulations. - The proposal shares CUSIPs and rights between tokenized/traditional shares but faces criticism over potential market fragmentation and investor protection risks. - SEC's cautious approach and December 4 panel will determine if tokenized equities gain regulatory traction or remain niche experiments. - Industry divides persist: Nasdaq prioritizes incremental adoption w
XRP News Today: Investors Divided: XRP's $5 Buzz Compared to Ozak AI's 7,000% Growth Promise
- XRP gains traction as analysts predict $5 price targets via ETF-driven inflows, citing historical Bitcoin multipliers. - Ozak AI emerges as AI-focused crypto alternative, raising $4.54M in presale with 7,000% return potential via decentralized AI infrastructure. - Market splits between XRP's institutional appeal and Ozak AI's utility-driven innovation, highlighting crypto's shifting risk-reward dynamics. - Analysts note XRP's capped growth vs. Ozak AI's 50X-100X potential, emphasizing real-world AI appli
Trending news
MoreCrypto prices
More
