A U.S. Bankruptcy Court has approved Linqto’s sale of approximately $130 million worth of Ripple Labs common shares to four institutional buyers. Galaxy Digital is leading the transaction with an allocation of $60 million, followed by Arrington Capital at $50 million, the Private Shares Fund at $16 million, and GAM Alternatives Lux at $4 million. The proceeds from the sale are directed to the Chapter 11 Wind-Down Trust supporting customer recoveries.
Ripple waived its right of first refusal (ROFR) on the Galaxy Digital block, allowing the transaction to proceed without requiring co-sale adjustments. The court confirmed Linqto’s restructuring plan on February 6, 2026, with approximately 95% customer support.
Linqto filed for Chapter 11 bankruptcy in July 2025 after shutting down in March 2025. The bankruptcy estate spans stakes in approximately 111 private companies valued at over $500 million. The sale is classified as a secondary equity sale and carries no IPO signal.
XRP surged nearly 4% overnight, trading at $1.13. Daily trading volume for XRP has increased to $1.29 billion.
Linqto and its Official Committee of Unsecured Creditors have sued Forge Global Holdings over a last-minute withdrawal as trustee of the customer recovery trust. Forge Global Holdings attempted to withdraw just five days before the July 20 launch date of the recovery plan, citing demands from its new parent company, Charles Schwab, as the basis for backing out.
