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XRP News: Linqto Stands Firm on Ripple Holdings, Threatens Legal Action Against False Reports
In a shocking turn of events, investment platform Linqto has released an official statement firmly denying the recent misinformation spread by CapSign’s Founder and CEO Matt Rosedin. The false reports in question suggest that a private equity fund established by CapSign holds 4.7 million Ripple shares held by Liquidishares.
Linqto, with utmost clarity, stated that “Contrary to published reports on X, Linqto confirms that Liquidshares’ holdings of Ripple shares remain unchanged.” This statement comes as a swift response to the rising speculation regarding Linqto’s bankruptcy and its alleged connection to Ripple.
In a bid to clarify the confusion surrounding the matter, Ripple CEO Brad Garlinghouse stepped in to provide crucial information. According to him, “What we know from our records is that Linqto owns 4.7M shares of Ripple, solely purchased on the secondary market from other Ripple shareholders (never directly from Ripple).” Moreover, he emphasized that Ripple has no connection with Linqto and that trading between them ceased in 2024 amid growing concerns.
In a further attempt to dispel doubts regarding the safety of Ripple shares bought through Linqto, Linqto revealed that it has appointed a new management team to ensure the security of its investments in private held companies. Furthermore, they have retained an independent third-party analyst firm to scrutinize their internal analysis for any risks.
In an effort to prioritize regulatory compliance, Linqto announced that it will cooperate with regulators throughout ongoing investigations related to its misleading sales practices. Transactions involving Linqto will remain suspended until further notice from the officials is issued.
As the situation unfolds, Ripple has opted to maintain a safe distance from troubled firm Linqto, pending legal clarity on the matter.
Source: coinpedia.org
