Linqto has filed for Chapter 11 bankruptcy amid controversies regarding their compliance with securities laws. Their internal investigations revealed serious issues, including the mishandling of customer securities and targeting ineligible investors.
Ripple CEO Brad Garlinghouse stated that Ripple has no business ties with Linqto, asserting that the company has never been involved in financing rounds with them. The first bankruptcy hearing is slated for Tuesday at 9 PM UTC.
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