Source: Jake Chervinsky, Crypto Law & Policy Newsletter, Q1 2021 in Review.
Ripple fought the war over XRP’s security status on multiple fronts, waging separate battles against the SEC, crypto companies, and one of its own investors. As the SEC’s enforcement action moved forward with pretrial motions, the lead investor in Ripple’s Series C round—Tetragon Financial Group—tried and failed to redeem its Ripple shares for cash. Meanwhile, companies like Coinbase and Grayscale stopped offering XRP to avoid committing violations of their own.
Read more: Jake Chervinsky, Crypto Law & Policy Newsletter.