Share this article
Ripple Investor's Request to Reclaim Its $175M Investment Rejected by Court
Tetragon lost its bid to reclaim its portion of a $200 million Series C investment in the blockchain company.
By Daniel Kuhn
Updated Sep 14, 2021, 12:22 p.m. Published Mar 7, 2021, 8:10 p.m.
One of Ripple Labs’ largest financial backers lost its bid to reclaim its $175 million investment in the blockchain company.
STORY CONTINUES BELOW
Don't miss another story.Subscribe to the Crypto Daybook Americas Newsletter today. See all newsletters
A Delaware court denied the multi-billion asset manager Tetragon Financial Group’s request to redeem its Ripple equity for cash in the midst of an ongoing legal battle between Ripple and the U.S. Securities and Exchange Commission.
U.K.-based Tetragon filed suit in January to reclaim its portion of the $200 million Series C financing of the blockchain company it led in 2019. The suit also aimed to freeze Ripple’s liquid assets until it paid up. Now it appears Ripple won’t have to, with a Delaware Chancery Court judge on Friday rejecting the plaintiff’s case.
Ripple called the lawsuit meritless at the outset, saying at the time Tetragon only had a case if the SEC determined XRP to be a security. The terms of the initial investment gave Tetragon the right to redeem its Ripple equity, if XRP was found to be a security.
“XRP is no more a security after the SEC filed the enforcement action than it was before it,” the court said, as quoted in a Ripple press release. “The enforcement action, by contrast, asks that question. The question is not yet resolved, so a determination has not yet been made.”
The filings were not immediately available at press time.
“Let’s call Tetragon’s lawsuit what it is – an opportunistic move to take advantage of the SEC’s allegations. What has always been clear (and made so even more today) is that the SEC still has to try to prove their case in Court; which we do not believe they will be able to do,” Ripple said in a statement.
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Asia Morning Briefing: Fed Cut Brings Little Volatility as Bitcoin Waits for Japan
CryptoQuant data shows seller exhaustion as whales pull back from exchanges, while traders prepare for a closely watched BOJ meeting that could influence global liquidity.
What to know:
- Bitcoin remains stable above $91,000 as the Federal Reserve cuts rates by 25 basis points.
- Market attention shifts to Japan, where a rate hike is expected at the upcoming Bank of Japan meeting.
- Gold prices rise following the Fed's rate cut, while silver hits a record due to strong demand and tight supply.
Top Stories
