Tetragon, which lost its lawsuit against Ripple, will pay $ 3.4 million in damages.
A Delaware court has ordered Tetragon Financial Group, which lost its lawsuit against blockchain giant Ripple, to pay $ 3,463,000 in damages. Tetragon, which led Ripple's massive Series C financing round in 2019, had taken a stand against the company after a lawsuit against Ripple by the U.S. Securities and Exchange Commission in December.
The asset manager had sued Ripple to reclaim $ 175 million of its equity and temporarily freeze the company's assets. Following this move, the company was accused by Ripple of being opportunistic.
The judge ruled against Tetragon and noted that there is no court decision yet on the status of XRP.
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