• Ripple sued by investor Tetragon
    Regulation,  Ripple,  XRP

    Ripple sued by investor in wake of SEC’s XRP lawsuit

    Asset manager Tetragon Financial Group is demanding Ripple buy back its investment as a result of the Securities and Exchange Commission’s claim that XRP is an unregistered security

    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.

  • XRP investors sue SEC
    Regulation,  Ripple,  XRP

    XRP investors sue SEC, demanding damages

    The lawsuit seeks to force the Securities and Exchange Commission to declare that XRP held by non-Ripple investors is not a security, and accuses former SEC chairman Jay Clayton of personal hostility

    Seeking class action status, the petitioners have asked the court to force the SEC to place any funds it receives from its own lawsuit against Ripple and two top executives in a trust for individual retail investors harmed by the agency's action.

  • eToro to delist XRP
    Regulation,  Ripple,  XRP

    eToro to suspend XRP trading in U.S. ahead of planned IPO

    The social trading platform and exchange has followed the lead of Coinbase, which also announced plans to go public this month

    “Given the U.S. Securities and Exchange Commission’s (SEC) recent lawsuit against Ripple Labs, Inc., eToro... has decided to prohibit purchases of XRP on the eToro platform and to prohibit any conversion of XRP held in a customer’s eToro Wallet,” eToro said in a Dec. 31 blog post. The ban begins on January 3 at 12 p.m. EST.

  • Coinbase sued for selling XRP
    Regulation,  Ripple,  XRP

    Coinbase sued for selling XRP

    The $10 million lawsuit, which seeks class action status, follows the U.S. Securities and Exchange Commission’s lawsuit against Ripple for selling XRP, which the agency claims is an unregistered security

    Noting that Coinbase is not licensed to sell securities, the suit called Coinbase’s sale of XRP “unlawful” and “fraudulent,” claiming that “Coinbase falsely represented that XRP was a commodity when… Defendant knew it was a security.” It also said that selling XRP was “unfair” as it gave Coinbase “an unwarranted competitive advantage over digital asset exchanges that only sold commodities.”