Thus, XRP has already been abandoned by more than fifteen trading platforms around the world. Recall that the first pre-trial proceedings between the SEC and Ripple are scheduled for February 22, 2021. The below table highlights DLC Fund’s weightings as of January 4, 2021: $BTC $ETH $BCH $LTC /g3QQEf0kd8- Grayscale January 5, 2021 No others assets qualified for inclusion. The latest in it was the Grayscale Investment investment fund, which removed XRP from the high-capitalized cryptocurrency fund (DLC fund), as well as the crypto service.ģ/ $XRP was removed following DLC Fund's Quarterly Review (12/31/20). Nevertheless, the wave of XRP delisting from crypto exchanges continues. In particular, the plaintiffs argue that by calling XRP a security, the regulator violated the interests of investors and caused them serious financial harm. The petition claims that the SEC has caused irreparable damage to the token holders by its actions. For example, some XRP investors have petitioned the Rhode Island District Court for a supreme court order against the SEC. However, not all Ripple investors decided to abandon the company. The courts will provide this clarity and we are very confident in our position,” Ripple said. “We are disappointed that Tetragon is trying to unfairly exploit the lack of regulatory clarity here in the US. Tetragon is also asking the court for an interim injunction and expedited trial. Ripple has already said that Tetragon's claim is "unfounded" as it has not yet been legally established that XRP is an unregistered security, as the SEC claims. In December 2019, Tetragon led a $200 million round of investments in Ripple. The investor also asks the court to block Ripple's access to the use of any cash or other liquid assets until the payment is made. Ripple's Series C lead investor Tetragon to sue the companyĪccording to the lawsuit, Tetragon intends to "exercise its contractual right to demand a buyback from Ripple" of its Series C preferred shares. Nevertheless, the biggest contributor to a Series C financing round that saw Ripple amass 175 million filed case on Ripple to repurchase its tokens following the filing of lawsuit by SEC, stating that it triggered the risk of irreparable harm. Janu| AtoZ Markets – UK-based investment firm Tetragon Financial Group is suing Ripple over a lawsuit filed by the US Securities and Exchange Commission (SEC). Bloomberg reports about it, referring to the document. The UK headquartered asset administration company controls only 2 of Ripple’s equity. One of the leading investors in Ripple Tetragon sues the company over a lawsuit from the SEC, as the wave of XRP delisting from crypto exchanges continues. Running multiple EAs on MT4 trading terminal Trade Forex using MT4 currency strength meter Securities and Exchange Commission (SEC), according to a report by Bloomberg. The dispute was caused by the SEC's lawsuit alleging that. Tetragon, who led Ripple's Series C in 2019, later sued Ripple and requested to have its shares redeemed for cash. Ripple CEO Brad Garlinghouse says that 2021 was the company's best year on record. Tetragon Financial Group, the lead investor of Ripples 200 million Series C, has sued the company after a recent complaint by the U.S. Ripple is valued at 15 billion following a buyback of shares from its Series C investors. What is Automated Forex Trading & How it Works? Ripple is facing yet another lawsuit, this time from one of its investors. What is Automated Trading & How it Works? Tetragon argued that the defendant is under contractual obligation to Buyback the shares.What are Forex Trading Signals - Forex Signals Explained As a consequence of a $1.3 billion SEC Lawsuit, Tetragon, in Dec 2021 sued Ripple. It’s a multichain world after all □ 4/4įor context, in December 2019 Ripple had raised $200 million through the sale of Series C shares to Tetragon Financial Group together with SBI Holdings and Route 66 Ventures. RippleX – full speed ahead on establishing a multitude of capabilities to the XRP Ledger – NFTs, CBDCs, interoperability bridges, sidechains and so much more – working hand in hand with devs and partners around the world. With the buyback Ripple is now worth $15 Billion, a record high. Through a tweet, CEO Ripple Brad Garlinghouse announced a redemption of $200 million worth of Series C shares from lead investor Tetragon Financial Group, a UK-based investment firm, SBI Holdings and Route 66 Ventures. In an attempt to further solidify its financial position, Ripple buybacks $200 million worth of Series C shares.
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