Ripple Exits Major Investments Amid Legal Battles
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.
Alexander Stefanov
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