- Ripple’s CEO confirmed Linqto bought 4.7M shares only via secondary markets, with no direct business relationship between both companies.
- Linqto froze user accounts amid bankruptcy proceedings, proposing refunds of original investments but denying profit returns to investors.
Ripple CEO Brad Garlinghouse stated Linqto acquired Ripple shares exclusively through secondary markets. His comments followed investor concerns after Linqto froze accounts.
“To be clear, on Ripple’s end: What we know from our records is Linqto owns 4.7M shares of Ripple, solely purchased on the secondary market from other Ripple shareholders (never directly from Ripple).”
Garlinghouse confirmed Linqto holds 4.7 million Ripple shares. These shares were purchased from other shareholders, not from Ripple directly. Ripple never maintained business ties with Linqto. The company stopped approving Linqto’s secondary purchases in late 2024.
“Apart from Linqto being a shareholder, Ripple has never had a business relationship with Linqto, nor have they participated in our financing rounds. We stopped approving more Linqto purchases on secondary markets in late 2024 amid growing skepticism.”
Linqto suspended operations last week. The private equity platform proposed refunding only original investments, denying users potential profits. Federal authorities are investigating its activities.
Understandably, there have been many questions from those who believed they were buying Ripple shares from Linqto, and what happens next. To be clear, on Ripple’s end:
What we know from our records is Linqto owns 4.7M shares of Ripple, solely purchased on the secondary market… https://t.co/XHstpwwmIL
— Brad Garlinghouse (@bgarlinghouse) July 2, 2025
Attorney John Deaton, a Linqto investor, urged calm among affected users. Deaton noted Linqto carries no debt and holds documented assets. He suggested bankruptcy proceedings could establish clearer investor protections.
For Linqto customers, I’m one of you, as you can see. I’m well aware that people have less than me (some have much more than me also) on the platform, but it represents their entire investment portfolio or retirement. I get how unnerving that is.
I’ve become familiar with… https://t.co/tJy1OXAQxM
— John E Deaton (@JohnEDeaton1) July 1, 2025
Secondary markets allow trading of private company shares before public listings. Platforms like Linqto enabled retail investors to buy pre-IPO stocks. Recent events have raised questions about oversight in this sector.
Ripple’s clarification aims to distance itself from Linqto’s operational issues. Garlinghouse emphasized no participation in Linqto’s funding rounds occurred. Investor trust in pre-IPO platforms has weakened following the freeze.
Deaton acknowledged some investors placed retirement funds on Linqto. He maintains proper accounting could enable eventual returns. Regulatory outcomes will determine next steps for frozen accounts.
XRP (Ripple) is trading at $2.2029 USDT, posting a slight +0.14% intraday gain. However, on the weekly view, XRP is down −0.67%, while the monthly performance reflects a mild −0.19% decline.
Year-over-year, the asset remains significantly bullish with a +361.73% gain, making it one of the standout performers among large-cap altcoins over the past 12 months.
Technically, XRP is showing mixed signals. Daily indicators point to a short-term buy setup, but the weekly timeframe reads as neutral, suggesting price is currently in a consolidation phase following its failed attempt to hold above $2.25–$2.30.
Price volatility is at 2.48%, which is moderate for XRP, and the asset continues to respect its broader ascending structure. Resistance lies at $2.28–$2.33, and support levels to watch include $2.05 and $1.90, which have historically held on pullbacks.
On the news and macro backdrop:
- XRP reached its yearly high of $3.40 on January 16, 2025, but has since been unable to reclaim those levels amid broader market hesitation and capital rotation into meme and AI tokens.
- Grayscale’s multi-asset ETF listing — which includes XRP alongside BTC, ETH, ADA, and SOL — has introduced indirect institutional exposure, but has yet to materially impact daily volumes.
- The EVM-compatible XRPL sidechain is now live, potentially expanding developer activity and cross-chain interoperability, although adoption metrics are still lagging behind Solana and Arbitrum.
- Crypto sentiment remains mixed. While on-chain metrics show accumulation, there is also evidence of slowing transaction volumes on the XRP Ledger, sparking debate over utility vs. speculation.
Community sentiment is bullish with increasing interest in macro narratives (CBDCs, banking rails), yet technical analysts caution that any break below $2.05 could invalidate the bullish setup and trigger deeper corrections.
XRP is in a critical consolidation phase, technically biased to the upside but lacking volume confirmation to push toward $2.60–$3.00 in the near term. Macro developments and capital flows into ETF vehicles could define its trajectory heading into Q3.
