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Ripple Clarifies Relationship Amidst Regulatory Investigation
In a recent statement, Brad Garlinghouse, CEO of Ripple, clarified the company’s relationship with Linqto amidst ongoing regulatory investigations. The clarification comes in response to growing concerns surrounding potential share price manipulation.
According to Ripple, the company has never had any formal ties with Linqto. This announcement directly contradicts earlier reports suggesting a close partnership between the two entities.
In his statement, Garlinghouse emphasized that Ripple stopped approving Linqto-related secondary transactions in late 2024 due to increasing concerns about the platform’s practices. He further stated that any claims of direct sales to Linqto were unfounded and that no such deals had been authorized by Ripple itself.
This clarification comes as the Securities and Exchange Commission (SEC) and Department of Justice (DOJ) investigate Linqto for potential securities law violations. The investigation centers around allegations that former Linqto CEO William Sarris manipulated Ripple share prices, resulting in over a 60% increase, without proper authorization.
Source: cryptoslate.com
