Former Ripple Investor Linqto Files for Bankruptcy Restructuring

BlockBeats News, July 8th, according to Cointelegraph, Linqto is a private investment platform that allows investors to purchase shares of pre-IPO companies. The company has filed for Chapter 11 bankruptcy protection in the Southern District of Texas.

According to disclosures, Linqto holds 4.7 million shares of Ripple acquired through the private market. This bankruptcy filing comes shortly after Ripple CEO Brad Garlinghouse's statement last week, where he clarified that while Linqto holds 4.7 million shares of Ripple's secondary market stock, it has no business relationship with Ripple.