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A Delaware court has ruled that San Francisco Fintech company Ripple will be paid $3.463 million in legal fees by U.K. It is a real shame, that one of Ripple investors decided to try an jump ship over the alleged security lawsuit against Ripple for the sales of XRP. You alone bear the risk for your investment decisions.This didn’t have the fairytale ended that Tetragon thought it would.
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#Ripple series tetragon professional
Readers are requested to form their own opinions on the contents of this website and to seek professional and independent advice before making concrete investment decisions. The content of this website solely reflects the subjective and personal opinion of the authors. Risk warning and disclaimer: The contents of this website are intended solely for the entertainment and information of readers and do not provide investment advice or a recommendation within the context of the Securities Trading Act. By bringing a massive enforcement case, the SEC acknowledges they didn’t “determine” anything, but the crypto markets – under pressure – interpreted the filing as such, causing massive damage to retail holders and now the SEC affirms that no determination has been made about XRP and it didn’t order or ask anyone to halt trading / delist, so retail holders shouldn’t blame the SEC but instead – wait for it – blame the exchanges! So who are they protecting?!
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This is why regulation by enforcement wreaks such havoc. The Tetragon ruling, coupled with the SEC’s filing in ’s case, should put to rest the FUD that the SEC unilaterally determined that XRP is a “security.” Glad that’s settled!īrad Garlinghouse, CEO of Ripple Labs, also voiced his opinion on both cases via Twitter, denouncing the SEC: The Court hearing the SEC’s case against Ripple is “the exclusive method for testing the validity” of the SEC’s claims against Ripple.Īlderoty commented on the success against Tetragon in combination with Deaton’s filing: The SEC admitted that it has not yet made a decision on the status of XRP. The SEC stated: In addition, Alderoty also referred to a current lawsuit that XRP holders – specifically, attorney John E. And when it is made, it will be made by the District Court. The question is not yet resolved, so a determination has not yet been made. The enforcement action, by contrast, asks that question. A determination …resolves the question of whether XRP is a security. The Delaware judge stated:īut XRP is no more a security after the SEC filed the enforcement action than it was before it. Thus, the asset manager had not demonstrated the requisite likelihood of success on the merits of its claim. The reasoning states that Tetragon cannot show that the Wells notice or enforcement action is a securities default. Zurn has thus denied Tetragon’s request for a preliminary injunction, and lifted the previously imposed injunction. 7.Īs Stuart Alderoty, General Counsel at Ripple Labs, now revealed a few hours ago, the Delaware court has ruled that Tetragon’s claim of a “securities default” is false, as there is no official ruling on the status of XRP. To enforce its right as quickly as possible, Tetragon filed a preliminary injunction on Jan. The asset management firm was the largest contributor to a Series C funding round with $175 million and sued Ripple to force stock redemption after the SEC lawsuit was filed. Ripple Labs scored a victory yesterday in its legal battle with Tetragon Financial Group Ltd. SEC, the agency confirmed that only the court can decide on the classification of XRP as a security. The court declined to issue a preliminary injunction and lifted the injunction imposed against Ripple Labs.
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