Ripple Exits Major Investments Amid Legal Battles
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Ripple has divested from its holdings in several companies, including Bitstamp, MoneyGram, and Tranglo, as reported by Crunchbase.
In early 2023, Ripple acquired Pantera’s stake in Bitstamp, following its 40% acquisition of Tranglo in 2021.
Additionally, Ripple purchased a $50 million equity stake in MoneyGram in 2019, aiming to enhance foreign exchange settlements and cross-border payments.
However, MoneyGram suspended this partnership in 2021 after Ripple faced legal action from the SEC for allegedly selling XRP as an unregistered security in late 2020.
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Last summer, a US District Judge ruled that Ripple’s programmatic sales of XRP were not securities offerings, but direct sales to institutional buyers were.
Recently, the SEC sought nearly $2 billion from Ripple, alleging violations related to XRP sales. Ripple’s legal team has countered, arguing that a significantly smaller amount should be considered based on actual revenues from pre-litigation institutional sales.