Ripple Investor’s Request to Reclaim Its $175M Investment Rejected by Court

One of Ripple Labs’ largest financial backers lost its bid to reclaim its $175 million investment in the blockchain company.

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. Security 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.