![]() ![]() The filings were not immediately available at press time. The courts will provide this clarity and we are very confident in our position.” We are disappointed that Tetragon is seeking to unfairly take advantage of the lack of regulatory clarity here in the U.S. The 200 million Series C funding round, which was led by global investment firm Tetragon, could help validate. “Since there has been no such determination, this lawsuit has no merit. Ripple Hopes Funding Refutes XRP Skeptics. In a legal filing shared with CoinDesk the fintech said Tetragon can only opt to flip its Ripple equity back to cash “if XRP is deemed to be a security on a go forward basis.” Tetragon filed Ripple at Delaware Court Of chancery around january 2021, attempting to put it into action signed agreement of a buy option equal towards the worth of it’s own undisclosed investing amount, in an attempt to disassociate itself of the Ripple during its elevated and overtly publicized struggle. ![]() In the meantime, Tetragon wants the court to essentially freeze Ripple’s liquid assets until it pays. Tetragon seeks to “enforce its contractual right to require Ripple to redeem” Series C preferred stock, Bloomberg reported. A lawsuit that Ripple Labs representatives called opportunistic. Related: Market Wrap: Bitcoin Breaks $34K as Ether Futures Interest Jumps $350M in a Day The case goes back to January, where Tetragon, an investment management group based in the UK, sued Ripple to force it to buy back 175 million in shares. That’s spooked the XRP markets and now, apparently, Ripple investors, too. According to a Bloomberg report, Tetragon is seeking to block Ripple from using any cash or other liquid assets until the payment is made. At the time, Ripple was valued at around 9.8billion. Investment company Tetragon, who led Ripple’s 200 million Series C investment round in 2019, is now suing Ripple in an attempt to have the company redeem the Series C preferred stock owned by Tetragon. Securities and Exchange Commission put Ripple’s future in doubt with a blockbuster suit alleging XRP to be an unregistered security. Ripple raised 200M in December 2019 through the financing round that was led by Tetragon, SBI Holdings, and Route 66 Ventures. ![]()
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