Court clears $130M Ripple share sale as Galaxy Digital leads buying

A US Bankruptcy Court approved the sale of about $130 million in private Ripple shares, with Galaxy Digital leading institutional buying as part of Linqto's Chapter 11 restructuring.

Galaxy Digital committed $60 million to the purchase, while Arrington Capital bought $50 million, the Private Shares Fund added $16 million and GAM Alternatives Lux took $4 million, according to court filings cited by Coinpedia.

Ripple waived its right of first refusal, allowing the transfers to proceed. The deal does not signal an imminent public listing for Ripple and has no direct impact on XRP holders or XRP ownership. Linqto filed for Chapter 11 in July 2025 after new management uncovered potential securities-law violations dating back to 2020. The platform had already shut down in March 2025, with its bankruptcy case involving investments linked to about 111 private companies valued at more than $500 million.

The proceeds will support customer recoveries as Linqto winds down operations. However, a separate legal dispute with Forge Global Holdings — which allegedly attempted to withdraw as trustee of the customer recovery trust five days before the planned July 20 launch — could delay asset transfers and increase legal costs, according to Bloomberg Law. On Feb. 6, the court approved Linqto's restructuring plan after about 95% of voting customers supported it.

This article is for informational purposes only and does not constitute investment advice.