Linqto’s 4.7 million Ripple shares were acquired solely from other shareholders and not directly from Ripple
Garlinghouse clarified that Ripple has no business relationship with Linqto, and it never participated in Ripple’s funding rounds
Linqto marked up Ripple shares by 60%, ignoring SEC rules that limit markups to 10% and is now under federal investigation
Ripple’s CEO, Brad Garlinghouse, explains that Linqto’s 4.7 million Ripple shares were acquired solely from other shareholders and not directly from Ripple. He clarified that Ripple has no business relationship with Linqto, and it never participated in Ripple’s funding rounds.
Additionally, Garlinghouse mentioned that Ripple stopped approving Linqto-related share purchases in late 2024 amid growing internal concern.
Linqto marketed itself as a way for retail investors to access private startups and pre-IPO equity, including Ripple, but now the company is in trouble and facing federal investigations. This is the main reason why Garlinghouse distanced Ripple from the turmoil surrounding Linqto.
It’s reported that Linqto marked up Ripple shares by 60%, ignoring SEC (Securities and Exchange Com…
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