
John E Deaton|Jul 06, 2025 19:49
REGARDING LINQTO:
We will all get to vote on the outcome in bankruptcy.
I’m using @Ripple shares as an example because it’s the most significant holding on the Linqto platform.
If the SPVs can be fixed AND regulatory compliant there’s a chance you eventually get Ripple shares BUT ONLY after Ripple goes public AND after the lockup period expires.
A restructuring of the company and Linqto.’s business model takes place in a way that everyone achieves the true VALUE of what they invested (including the upside) is another option in bankruptcy.
Unfortunately, liquidation could also become an option.
But people who say “give me my Ripple shares” need to understand that they DO NOT own shares in Ripple. Period. Full Stop. They NEVER did.
They owned units in an SPV - a Special Purpose Vehicle - that owns the Ripple shares. So as long as Ripple is a private company, you were NEVER going to get Ripple shares. You can’t.
A private company cannot have more than 2K shareholders. If a company were to have more than 2K shareholders, that company would need to comply with the same requirements a public company complies with.
There are approximately 11,500 Linqto customers who purchased SPV units in Ripple. Hence, no one can give you your shares in Ripple while it’s a private company.
Regarding @circle: I’ve seen some people post “where are my shares of Circle?” People who purchased units in Circle must wait until the 6 Month lockup period expires. So even if Linqto wasn’t filing for bankruptcy, and everything was done perfectly, you wouldn’t get Circle
Shares until 6 months after the IPO (plus a few Days).
We’ll be in bankruptcy court when the lockup expires and whether people can get Circle
Shares distributed to them or not will be addressed by the Bankruptcy Court. Some of the folks who invested in Circle private equity were non-accredited investors but now Circle is a publicly traded company and anyone can buy publicly traded shares, we’ll see what happens in Court.
Some people were very aware that they were buying units in an SPV and NOT direct shares. One of the allegations is that Linqto advertised in a way that misled people into believing they had direct ownership interests in Ripple.
Once bankruptcy is filed - which will be VERY SOON IMO - we will all get to vote on our outcome. The biggest danger we face is everyone fighting each other and not reaching consensus. Then the lawyers make all the money.
I can almost guarantee this:
By this time next week, you’ll know much more than you do today.
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