![]() ![]() ![]() We are disappointed that Tetragon is seeking to unfairly take advantage of the lack of regulatory clarity here in the U.S. The statement continued: "Since there has been no such determination, this lawsuit has no merit. In a statement issued earlier today, Ripple said the terms of that deal included 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." Tetragon led Ripple’s Series C funding round back in 2019, which raised a total of $200 million. Tetragon has also asked the court for an expedited trial, a preliminary injunction, and a temporary restraining order against Ripple. The Commission is now suing for $1.3 billion.īloomberg notes that Tetragon filed the complaint under seal on Monday in Delaware’s Court of Chancery the filing specifically asks that the firm’s preferred Series C Ripple stock be redeemed. The new suit was prompted by the SEC’s own legal action against the company-the regulator has alleged that XRP is an unregistered security and that Ripple's sales of it were illegal. UK-based investment firm Tetragon Financial Group is suing Ripple, the tech company behind the cryptocurrency XRP, according to a report from Bloomberg. Tetragon led Ripple’s Series C funding round in 2019.The lawsuit follows the SEC’s own $1.3 billion suit against Ripple.UK-based investment firm Tetragon Financial Group is suing Ripple, the company behind the cryptocurrency XRP. ![]()
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