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Ripple major shareholder Linqto files for bankruptcy, holding 4.7 million shares of XRP in the Secondary Market.
On July 8, it was reported that Linqto is a private investment platform that allows investors to purchase shares in companies that are not yet publicly traded. The company has filed for Chapter 11 bankruptcy protection in the Southern District of Texas.
According to the disclosure, Linqto holds 4.7 million shares of Ripple purchased through the private market. This bankruptcy filing follows a statement made by Ripple CEO Brad Garlinghouse last week, in which he clarified that while Linqto holds 4.7 million shares of Ripple in the secondary market, there is no business relationship with Ripple.