Galaxy Digital leads $130M acquisition of Ripple shares.
VC & Fundraising ·
A U.S. Bankruptcy Court has greenlit the transfer of roughly $130 million in Ripple equity from Linqto, a bankrupt pre-IPO investment platform, to four institutional purchasers. Galaxy Digital is acquiring $60 million of the shares, with Arrington Capital taking $50 million, the Private Shares Fund purchasing $16 million, and GAM Alternatives Lux buying $4 million. Ripple waived its contractual right of first refusal to permit the sales. The transaction represents equity in Ripple Labs itself, not XRP tokens, and carries no direct bearing on XRP token holders or token supply.
The sale underscores ongoing institutional demand for Ripple company shares despite occurring amid Linqto's Chapter 11 liquidation. Linqto filed for bankruptcy protection in July 2025 after management discovered potential securities-law violations tied to investment vehicle structures dating to 2020. The Ripple holdings—approximately 4.7 million shares—formed part of a broader portfolio spanning 111 private companies with a combined value exceeding $500 million. The $130 million proceeds from this disposition will funnel toward customer recovery efforts as Linqto winds operations.
A complication has emerged: Linqto and its creditors' committee have sued Forge Global Holdings, alleging the private-market platform attempted to resign as trustee of the customer recovery trust shortly before its scheduled July 20 launch. Forge cited demands from its parent company, Charles Schwab, for the withdrawal. Resolution remains pending, with no hearing date publicly announced. If the court compels Forge to remain, distributions could begin within weeks; if not, identifying a replacement trustee could push payouts into late 2026.