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Tetragon Financial Group has filed a lawsuit against Ripple. In 2019, she led a $ 200 million Series C funding round. when the XRP issuer was valued at $ 10 billion.
Oof. Ripple has been sued by a shareholder after the SEC claimed its XRP tokens were sold improperly. Tetragon was an investor in Ripple’s Series C round, which gave it a $10 billion valuation. Now it wants to sell the stock back to Ripple. https://t.co/mbQQriwVKU
— Ryan Browne (@Ryan_Browne_) January 5, 2021
Tetragon requires Ripple to redeem preferred shares under the current contract. Plaintiff asks the Delaware court to prohibit the defendant from using any liquid assets to maturity and to apply the fast track procedure.
On January 5, Grayscale Investments excluded XRP from the Digital Large Cap Fund trust and sold all tokens in favor of the remaining cryptocurrencies. Earlier, a similar decision was made in Bitwise and 21shares.
4/ For more information on the removal of $ XRP, please visit: https://t.co/5e8pglYM3B
— Grayscale (@Grayscale) January 5, 2021
According to Coin Metrics, since the filing of the claim by the US Securities and Exchange Commission (SEC), the number of addresses has decreased from 1 million XRP from 1721 to 1567.
Recall SEC accused Ripple of selling $ 1.3 billion of unregistered securities for seven years. Preliminary hearings will take place on February 22, 2021.
This is not the first lawsuit against the company – she is in litigation with investors for the second yearwho consider XRP to be an unregistered security. Ripple and Garlinghouse indicated by the defendants and in a lawsuit from Bitcoin Manipulation Abatement LLC, which is supervised by attorney Pavel Pogodin.
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