Ripple Testifies Before Senate While Investor Declares Bankruptcy

Key Points

1. Ripple CEO Brad Garlinghouse testifies before the Senate Banking Committee to advocate for clearer crypto regulation, alongside other industry leaders.

2. Linqto, an investment platform holding 4.7 million Ripple shares, files for Chapter 11 bankruptcy amid SEC investigations and allegations of fraud.

3. The Senate Banking Committee hearing focuses on key crypto bills, including the GENIUS Act and CLARITY Act, aiming to shape US crypto regulation.

4. Linqto's bankruptcy reveals financial mismanagement, including alleged markup schemes and regulatory violations, leading to SEC scrutiny.

5. Ripple distances itself from Linqto, clarifying no direct financial ties and halting Linqto's access to secondary Ripple shares after FINRA review.