San Francisco-based blockchain company Ripple is now facing a lawsuit from Tetragon, a $2.32 billion investment firm headquartered in the U.K. that acts as its top stakeholder, Bloomberg reports.
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The plaintiff is seeking to redeem its stock in the troubled company after it got sued by the U.S. Securities and Exchange Commission last month over illegal XRP sales.
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On top of that, Tetragon is asking the court to issue a restraining order against Ripple to temporarily freeze its liquid assets.
Tetragon was in charge of Ripple's $200 million Series-C funding round that propelled its valuation to a whopping $10 billion in late 2019.
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Vladislav Sopov
Dan Burgin