In January, when a lawsuit between Reflaps and the US Securities and Exchange Commission (SEC) was in progress, Tetragon Financial, an asset management company based in the UK, filed a lawsuit requesting the return of the $200 million investment that was executed at the time of the Ripple Labs Series C investment. did. Tetragon also requested that the current assets be frozen until Ripple repays the investment.
Ripple said, “The lawsuit filed by Tedagon can only be concluded if the SEC decides that Ripple is securities,” and argued that the lawsuit filed by Tedragon (because the SEC is in progress) is useless. “The lawsuit filed by Tetragon is opportunistic using the SEC lawsuit,” he said. “The SEC will still have to try to prove their claims and will never be able to do so. According to the terms of the investment contract signed by the two companies, Tetragon can only be repaid for its stake from Ripple if it turns out to be a securities.
The court cited the Ripple press release, saying, “Until the SEC decides, Ripple cannot be considered a security.” “Because the question has not yet been resolved, it cannot be said that a decision has been made.”
According to You2day, Brad Garlinghouse, CEO of Ripple Labs, appeared in the update of the documentary news program’Xos on HBO’ and said, “Even if Ripple Labs disappears, Ripple will continue to trade.” He said the only country in the world claiming that tokens can be securities is the United States. “The way SEC works will have a negative impact on the industry as a whole,” said Garlinghaus.