![]() ![]() We look forward to bringing the SEC’s case to a just and speedy resolution, and remove the cloud that the SEC’s misguided actions have cast over the XRP market. As our lawyers have said publicly, the SEC is “dead wrong!” And the suit aimed to freeze Ripple’s liquid assets. What has always been clear (and made so even more today) is that the SEC still has to try to prove their case in Court which we do not believe they will be able to do. Tetragon filed the suit in January, intending to reclaim its portion of the 200 million Series C round it led in 2019, according to CoinDesk. ![]() Let’s call Tetragon’s lawsuit what it is - an opportunistic move to take advantage of the SEC’s allegations. Per their words: the Court hearing the SEC’s case against Ripple is “the exclusive method for testing the validity” of the SEC’s claims against Ripple. ![]() Separately, the SEC itself acknowledged today in another case brought by XRP holders against the agency that it has not made any determination as to XRP’s status. And when it is made, it will be made by the District Court.” Therefore, Tetragon’s claim - that a securities default occurred - has been proven wrong. 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. Invest in Ripple by funding employee stock options with Equitybee. This ruling, coupled with a separate filing the SEC made today, should put to rest any confusion the SEC has NOT determined that XRP is a “security.”Īs the Delaware Judge stated: “But XRP is no more a security after the SEC filed the enforcement action than it was before it. Today, the Court in Delaware rejected Tetragon’s claim that the SEC had officially determined XRP’s status. ![]()
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