Ripple Breaks Silence on Linqto Controversy, Clarifies XRP and Share Differences
2025-07-02 23:41:04
Main Idea
Ripple clarifies it has no business relationship with Linqto and confirms that XRP is unaffected by Linqto's collapsed resale scheme, while addressing investor concerns about Linqto's disputed share ownership claims.
Key Points
1. Ripple CEO Brad Garlinghouse confirmed Linqto owns 4.7M Ripple shares purchased on the secondary market, but Ripple has no direct business ties with Linqto.
2. Linqto is under SEC and DOJ investigation for alleged securities fraud, misleading investors, and inflating share prices by up to 60%.
3. Garlinghouse emphasized that XRP and Ripple shares are distinct, and the controversy only pertains to Linqto's share dealings.
4. Ripple stopped approving Linqto's secondary market purchases in late 2024 due to growing skepticism about its practices.
5. Despite the Linqto fallout, Garlinghouse reassured investors that Ripple can confirm Linqto's share ownership, which may provide some clarity for affected parties.
Description
Ripple slams brakes on speculation as it confirms no ties to Linqto’s collapsed resale scheme, asserts XRP is unaffected, and highlights strong private share performance. Ripple CEO Responds to Linqto Fallout, Emphasizes XRP Not Part of Share Issue Investor concerns over the handling of private Ripple shares intensified following federal investigations into Linqto’s high-markup resale
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