After the crypto money exchanges, huge investment firms started to break off with XRP. Finally, Galaxy Digital and Jump Trading allegedly cut ties with the crypto asset XRP after Ripple’s billion-dollar lawsuit with the US Securities and Exchange Commission (SEC).

 

Two investment companies cut ties to XRP

According to a report published by The Block, trading desks belonging to Galaxy Digital and Jump Trading have ended the XRP market following the filing against parent company Ripple.

On December 23, the SEC released a press release detailing the $ 1.3 billion lawsuit against Ripple. The lawsuit alleges that Ripple was illegally marketing XRP to retail customers. Co-founder Chris Larsen and current CEO Brad Garlinghouse are accused of raising capital through the sale of unregistered securities.

Move from Galaxy Digital and Jump Trading

Following the announcement, multiple sources said Mike Novogratz’s Galaxy Digital is breaking ties with XRP. A company spokesperson said, “We are not doing business, but we will continue to evaluate as the facts emerge. said.

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Chicago-based trading company Jump Trading declined to comment on the development. However, three industry sources told The Block that the firm would no longer provide liquidity for XRP.

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