Ripple says its main stakeholder is trying to “take advantage of” its war with the SEC.
Response from Ripple
Ripple quickly responded to its key stakeholder Tetragon, claiming that his case had “no value” in a recent statement.
The bblockchain giant has been sued by the investment firm currently trying to buy its shares. This came after the SEC’s move, claiming that the XRP cryptocurrency is a security.
While Tetragon asks the court to temporarily freeze the defendant’s assets, he wants to enforce the contractual right stipulated in the agreement. Tetragon was at the helm of Ripple’s Series C funding round, which was completed in late 2019.
In its response, the XRP issuer accuses Tetragon of vaguely trying to “take advantage” of the regulator in the US:
“We are disappointed that Tetragon is trying to unfairly exploit the lack of regulatory clearance here in the US. Courts will provide this clarity and we are very confident of our position. ”
Ripple explains that the lawsuit is unfair as it is not determined whether XRP is a security. His legal fight with the SEC is expected to last more than a year.