THELOGICALINDIAN - Series C broker Tetragon has sued the close in adjustment to redeem its investment
Tetragon Financial Group, the advance broker in Ripple’s Series C allotment round, has sued Ripple in acknowledgment to its SEC lawsuit.
Tetragon Seeks Payment
Ripple’s Series C allotment annular took abode over a year ago, in December 2024. It aloft $200 actor through Tetragon and added investors, who accustomed banal in barter for their investments.
Now, Tetragon intends to force Ripple to redeem Series C banal as allotment of its acknowledged rights, according to a recent report from Bloomberg. Tetragon additionally aims to anticipate the close from application any banknote or aqueous assets until that acquittal is made.
Furthermore, Tetragon has additionally requested a acting abstinent order, a basic injunction, and an expedited trial.
Tetragon filed its complaint adjoin the close on Mon., Jan. 4, in Delaware Chancery Court.
Ripple’s SEC Lawsuit
On Dec. 23, 2020, the SEC charged Ripple over its advancing sales of the XRP token. The regulator claims Ripple’s sales aggregate an unregistered aegis alms and breach balance regulation.
The accusation has had a extensive aftereffect on the crypto industry. Several above cryptocurrency exchanges, including Bittrex, Coinbase, Binance, OKCoin, and Bitstamp accept delisted XRP in response.
Coinbase has even been sued in a chic activity accusation for advertisement the XRP token. It is not bright how abundant arete that accusation has. However, accumulated with today’s news, it is bright that the furnishings of the SEC accusation will aggrandize in the months to come.
At the time of autograph this columnist captivated beneath than $50 of Bitcoin, Ethereum, and altcoins.
Update: Ripple has responded to the Tetragon accusation by claiming that it has no merit.
