Bankruptcy court approves $130M Ripple share sale led by Galaxy Digital
Linqto won court approval to sell ~$130M in Ripple Labs private shares to four institutions. Proceeds go to its Chapter 11 wind‑down trust for customer recoveries.
Galaxy Digital anchors with $60M. Arrington Capital takes $50M. Private Shares Fund gets $16M. GAM Alternatives Lux buys $4M. Ripple waived its ROFR on the Galaxy block, easing transfer. Source: Eri on X, BankXRP on X.
XRP jumped ~4% overnight to $1.13, clearing $1.10, with $1.29B in daily volume. Price: TradingView. First mention: XRP.
Key deal details
- Secondary sale of Ripple equity. No IPO signal. No direct impact on XRP tokenomics. Source references in Ripple investor docs cited in report.
- Per buyers: Galaxy’s $60M block priced at a discount to other allocations, reflecting size and secondary dynamics. Pattern aligns with prior institutional accumulation during dislocations. Coinspeaker analysis.
- Ripple waived ROFR on Galaxy’s block, avoiding co‑sale adjustments. Allocation summary reviewed by Bondoro per report shared on X: thread.
Linqto bankruptcy context
- Linqto shut March 2025, filed Chapter 11 July 2025 over SPV issues from 2020. Estate spans ~111 private stakes worth >$500M.
- Court confirmed the plan Feb 6, 2026 with ~95% customer support. Recovery via liquidating fund, a listed closed‑end fund of private shares, or both. Background per Bloomberg Law.
- New dispute: Linqto and its creditors’ committee sued Forge Global after it tried to exit as trustee five days pre‑launch, citing demands from new parent Charles Schwab. Court may compel performance. Possible admin delays and added costs, but no effect on validity of sold Ripple shares or XRP pricing. Bloomberg Law.
Why it matters for investors
- Four buyers at varied prices show breadth of institutional demand for Ripple equity amid a bankruptcy unwind.
- Galaxy’s size discount points to negotiated secondary dynamics, not a different thesis.
- Demand coincides with reports of Ripple targeting a $1B 2026 revenue run‑rate, reinforcing a private‑market valuation floor. Coinspeaker.
Chart and price source: TradingView. Image courtesy of Holder.
