Linqto, a company that once bought Ripple shares through private placement, filed for bankruptcy reorganization

On July 8, Cointelegraph reported that Linqto is a private investment platform that allows investors to buy shares of companies that have not yet been publicly listed. The company has filed for Chapter 11 bankruptcy protection with the U.S. District Court for the Southern District of Texas.

According to the disclosure, Linqto holds 4.7 million shares of Ripple purchased through the private market. The bankruptcy filing follows a statement by Ripple CEO Brad Garlinghouse last week, who clarified at the time that although Linqto holds 4.7 million secondary market shares of Ripple, it has no business relationship with Ripple. #Linqto