![]() ![]() ![]() Subscribe to ForkLog news on Telegram: ForkLog Feed – the entire news feed, ForkLog – the most important news and polls. The investor, British fund manager Tetragon Financial Group, in January demanded to redeem its preferred Series C Ripple stock. They responded by calling the Commission’s amended lawsuit “Regulatory arbitrariness”. Ripple, the crypto payments company behind XRP, yesterday dodged a bid from one of its biggest investors to redeem 175 million worth of stock. We will remind, in February, the SEC filed an amended version of the claim, focusing on the actions of the company’s CEO Brad Garlinghouse and its co-founder Chris Larsen. As our lawyers have publicly stated, the SEC is absolutely wrong, ”Ripple said in a statement. “The SEC has yet to try to prove its case in court, but we do not believe they will be able to do this. The judge agreed that until the SEC case is resolved, XRP’s status remains an open question. On Friday, March 5, the court rejected Tetragon’s request. Regulator accused the company of selling unregistered securities worth $ 1.3 billion in XRP tokens. Tetragon took action following the filing of a lawsuit against Ripple by the US Securities and Exchange Commission (SEC). The plaintiff asked the Delaware court to block the Californian company from using cash and other liquid assets pending payment. In January 2021, a British firm through the court demanded that Ripple redeem preferred shares under the current contract. In 2019, Tetragon led Ripple’s $ 200M Series C funding round when the company estimated at $ 10 billion. filed the complaint on January 4th in Delaware Chancery Court and is looking to enforce its contractual right that requires Ripple to redeem the Series C preferred stock owned by Tetragon. Additionally, Ripple experienced its “best hiring year in 2021,” and it is now looking to attract “hundreds of global employees this year” to support its existing 500-employee workforce.Ripple Labs has reflected in court an attempt by the British investment firm Tetragon Financial Group to buy out its stake in a fintech company, reports Bloomberg. Tetragon capital, the lead investor in Ripple’s 200 million Series C round, has sued Ripple Labs. Ripple has repurchased $200 million worth of Series C stock, a decision that will take the San Francisco-based technology company to a record high valuation of $15 billion. When reaching out to Ripple to better understand their ambitions, a representative spokesperson stated that the decision to buy was made due to their “solid position in the market,” citing that the company is “cash flow positive” and has a “strong balance sheet.” Ripple, the major blockchain payments firm behind XRP, the third biggest altcoin by market cap, has raised 200 million in Series C led by Tetragon Ripple Raises 200M, Calls 2019 Its Strongest. ![]() It’s a multichain world after all ? 4/4Īlong with the acquisition and valuation news, Garlinghouse also shared optimism for the future of RippleNet and Ripple X, the latter of which is posed to enhance the utility of the XRP Ledger in an array of emerging sectors, including nonfungible tokens, central bank digital currencies, as well as interoperable, multichain functionalities, among others. 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. Ripple will be in court next month, defending its motion to dismiss a lawsuit claiming its sales of XRP were an unregistered. Choosing to buy shares from Tetragon, SBI Holdings, and Route 66 Ventures implies that Ripple wants to enhance its financial strength. However, just three months later, in April, the court ruled in favor of Ripple and against the plaintiff, Tetragon, ending the financial dispute. Intending to separate themselves from Ripple amid their public and well-known lawsuit, Tetragon sued Ripple in early January 2021 in the Delaware Premier Court, seeking to fulfill the contractual obligations of the acquisition clause for the value of the investment was not disclosed. However, in December 2020, the United States Securities and Exchange Commission (SEC) launched a $1.3 billion financial lawsuit against Ripple Labs, and co-founders Chris Larsen and CEO Brad Garlinghouse accused parties of using XRP unlicensed digital asset security. In December 2019, Ripple raised $200 million in a Series C funding round with Tetragon Financial Group, a United Kingdom-based investment firm, acting as the lead investor alongside SBI Holdings and Route 66 Ventures. /rebates/&252fripple-200m-series-tetragon. Ripple announces $200 million share buyback and expresses optimism for 2022 ![]()
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