In a Sharp Statement, Ripple’s CEO Draws a Clear Line Between His Firm and Linqto
2025-07-02 17:33:42
Main Idea
Ripple's CEO, Brad Garlinghouse, clarifies that Ripple has no business relationship with Linqto, distancing the company from Linqto's legal and financial troubles.
Key Points
1. Ripple's CEO states that Ripple has no business ties with Linqto and never participated in its funding rounds.
2. Linqto is under federal investigation for allegedly marking up Ripple shares by 60%, violating SEC rules.
3. Over 11,000 users accessed Ripple shares via SPVs (special purpose vehicles), which may have been improperly structured.
4. Linqto is reportedly nearing bankruptcy, potentially leaving users locked out of their investments.
5. Ripple's CTO, David Schwartz, emphasizes that users do not own shares directly but rather a portion of a legal entity holding the shares.
Description
Linqto’s 4.7 million Ripple shares were acquired solely from other shareholders and not directly from Ripple Garlinghouse clarified that Ripple has no business relationship with Linqto, and it never participated in Ripple’s funding rounds Linqto marked up Ripple shares by 60%, ignoring SEC rules that limit markups to 10% and is now under federal investigation Ripple’s CEO, Brad Garlinghouse, explains that Linqto’s 4.7 million Ripple shares were acquired solely from other shareholders and not dir...
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