It’s times like these that make me miss the boring consolidations years of 2018 and 2019 – I never thought I would say that! Honestly, I feel bad for a lot of XRP holders out there that are new to this space. It must be very hard and emotional to hold through these dramatic events taking place. I wouldn’t be surprised that when all this drama is behind us, that only a few of us iron-handed holders are left to reap the rewards to suffer the consequences. We are currently in the throws of the most important final decisions of our lives. Regardless of if you buy or sell your XRP, you will always check the price in the future, it will almost be a ritual. This is what keeps me up at night actually. I know 10 years from now XRP will be here and have a price, the question is, what will that price be?! For me, I know the price will be well north of $10.
Screw the current drama and the FUD waves that are following XRP right now. XRP’s fundamental tech is the fastest, cheapest, most reliable, and scalable financial asset on earth. XRP will have its day and in the meantime, I do what I’ve always done, accumulate. You can’t change the inevitable. Get on it or get run over by it.
With that being said, Ripple just got hit with yet another lawsuit. This lawsuit is being brought on by Tetragon Financial Group, the leading investor of Ripple’s $200 million Series C funding round. None of you will be surprised when I say that Tetragon has taken this action due to the SEC vs. Ripple lawsuit.
Tetragon filed this lawsuit Monday, January 4th, 2021 in Delaware Chancery Court. Tetragon stated they seek to:
enforce its contractual right to require Ripple to redeem Series C preferred stock
Ripple quickly fired back by posting their public response:
In Ripple’s Series C investment agreement, there is a provision that if XRP is deemed to be a security on a go forward basis, then Tetragon has the option of having Ripple redeem their Ripple equity. Since there has been no such determination, this lawsuit has no merit. We are disappointed that Tetragon is seeking to unfairly take advantage of the lack of regulatory clarity here in the U.S. The courts will provide this clarity and we are very confident in our position.
There is an enormous amount of FUD spewing on Twitter regarding this news lawsuit. I urge you to use the fundamentals of logic and read Ripple’s response carefully. It clearly states that Tetragon has no legal leg to stand on regarding this matter. This is simply a legal ploy by Tetragon because they have cold feet with this SEC lawsuit taking place. This story is still developing, but for the time being this news seems to be all hot air with no legal substance.
A notable FinTech lawyer commented this regarding this new lawsuit:
Don’t get caught in the FUD of all of this noise. Focus on the fundamentals of XRP and Ripple, those are the facts that cant be twisted.