This ruling, coupled with a separate filing the SEC made today, should put to rest any confusion. users and it’s actually planning to move its business to Japan consequently.Īdditionally, many company’s supporters signed a petition and said that the SEC’s claims are false, and can harm many XRP holders despite being non-arguments. A court in the U.S State of Delaware has rejected Tetragon Financial Group Ltd’s request for an order requiring Ripple to redeem the Series C preferred stock held by Tetragon. Nevertheless, CEO Garlinghouse said that the company doesn’t have many U.S. The deal values Ripple at 10 billion Despite seeing some use in cross-border transfers, XRP is the worst-performing top 10 cryptocurrency of 2019 US-based fintech firm Ripple has scored another major investment today, the company announced that it has raised a whopping 200 million in Series C funding in an investment round led by. traders, the company might be facing a huge financial problem soon. The XRP token lost most of its value due to the SEC lawsuit, and with major cryptocurrency platforms suspending XRP usage for U.S. 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. The courts will provide this clarity and we are very confident in our position,” the blockchain company wrote on its website. Tetragon capital, the lead investor in Ripple’s 200 million Series C round, has sued Ripple Labs. We are disappointed that Tetragon is seeking to unfairly take advantage of the lack of regulatory clarity here in the U.S.

Since there has been no such determination, this lawsuit has no merit.

“In Ripple’s Series C investment agreement, there is a provision that if XRP is deemed to be a security on a go forward basis, then Tetragon has the option of having Ripple redeem their Ripple equity. The blockchain company said it is disappointed with its investor. In response, Ripple said ‘s lawsuit “has not merit” since it hasn’t been determined that XRP is a security. Moreover, in enhancement to demanding an equity redemption, Tetragon also demanded that Ripple’s assets and liquidity be frozen until the payment is received. Ripple’s response to Tetragon’s complaint Tetragon demanded reimbursement from Ripple for the 200M Series C investment round it led for the blockchain startup, via which it funded 175 million in the blockchain startup.

Ripple 200m series tetragon