Ripple shareholder Linqto files for Chapter 11 bankruptcy protection

Private investment platform Linqto has filed for Chapter 11 bankruptcy protection under U.S. bankruptcy law. The company also holds 4.70 million shares of Ripple purchased on the private market. Ripple CEO Brad Garlinghouse clarified last week that Linqto owns 4.70 million secondary shares of Ripple but has no business relationship with the company. Based on a secondary market stock price of $95.5, Linqto's holdings of Ripple stock may be worth approximately $450.00 million. [Foresight News]