In December 2019, asset manager Tetragon Financial Group led Ripple’s $200 million Series C investment round. Now, it is seeking to enforce a contractual provision to back out of its investment, Ripple said in a public statement on Jan. 5.
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Lawsuit looming, Ripple sees solidarity and departures
As the impact of the Securities and Exchange Commission’s lawsuit hits some supporters are taking off, some are backing away, and some are offering support
While Ripple has offered an aggressive response, promising to fight the enforcement action it calls “an assault on the entire American cryptocurrency industry and an assault on American innovation”—companies working with Ripple and XRP have had very different responses.
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Major financial firm SBI Holdings buys crypto market maker B2C2
SBI Financial Services bought institutional cryptocurrency trading firm B2C2, making it the first major finance firm to run a digital assets trading desk
The acquisition of the well-known crypto trading firm, by a division of the major Japanese financial group SBI Holdings, marks the “first sizable non-industry M&A deal that wasn’t an acquire or bail-out,” CoinShares Chief Strategy Officer Meltem Demirors tweeted in response to the news. “SBI has been an early mover in crypto, acquiring a market maker is a galaxy brain move!”
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Japanese financial services giant SBI joins security token market
SBI Holdings announced that it will launch its first security token offering at the end of the month, for its professional video gaming subsidiary
The offering will take place via the blockchain platform Ibet, managed by local firm Boostry. The same blockchain platform was used for Japan’s first blockchain bond offering in March.
