Bitcoin.comBlockchainCrypto assetCrypto ExchangesdelistingFintechJefferiesMoneyGramRippleThe U.S. Securities and Exchange CommissionXRP

Ripple to Dispose Stake in Moneygram Shortly After Announcing End of a Business Relationship

Just a few days after announcing the end of its partnership with Moneygram, the fintech firm Ripple Labs is now moving to dispose of its stake in the listed company. In a filing with the U.S. Securities and Exchange Commission (SEC), Ripple says it has entered into an agreement with Jefferies in which the latter is expected to execute “the orderly disposition of a portion of the former’s stake in Moneygram.”
Ripple and Moneygram Partnership Maybe Revisited
As the filed document explains, this agreement mandates Jefferies, a U.S. based diversified financial services company, to “sell up to 8,195,123 shares on behalf of Ripple.” However, this plan to offload the stock, which was expected to have commenced on March 11, is set to “expire upon the earliest of September 30, 2021.” At that point, “the maximum amount shall have been sold, or the occurrence of certain other customary events affecting the issuer.”
Still, despite taking these steps to end the business relationship, Ripple did hint in a statement that this partnership might be revisited in the future. The fintech firm said:
We are both committed to revisiting our relationship in the future. We still believe in the promise of digital assets and blockchain technology to change the status quo in global payments for the benefit of billions of consumers around the world.
The Effect of the SEC Lawsuit
After the SEC announced that it was suing Ripple Labs for allegedly violating the U.S Securities Act, the business relationship between Moneygram and …
Story continues on

Related posts
Bitcoin.comCleverCLVADeFiPress ReleaseUniswap

Clever DeFi to Add Liquidity on Uniswap Following Minting Phase

PRESS RELEASE. CLEVER, a fully Decentralized Finance protocol, is set to bring added liquidity and extra value to its Ecosystem via the supported listing of its native CLVA token on popular decentralized exchange platform Uniswap. Uniswap Listing Next Phase for…
Balance SheetBitcoinBitcoin (BTC)Bitcoin.comBTCcompanies bitcoinETFexchange traded fundFinanceSEC filingSEC prospectusTreasuriesValkyrieValkyrie Digital Assets

Valkyrie Hopes to Launch ‘Innovative Balance Sheet ETF’ Backed by Companies Exposed to Bitcoin

At the end of January, the Texas-based firm Valkyrie Digital Assets filed an exchange-traded fund (ETF) registration for the “Valkyrie Bitcoin Trust” with the U.S. Securities and Exchange Commission (SEC). This month, the cryptocurrency investment manager announced it has filed…
AltcoinsAnalysisGlobal NewsHideCryptopanicNews 1SocialTrading ViewXRP

XRP, Bitcoin SV, Elrond Price Analysis: 13 March

XRP was trading within a descending channel pattern and the buyers lacked the numbers to drive the prices toward a breakout. Elrond has been trading within $130 to $160 for a few days, while Bitcoin SThe post XRP, Bitcoin SV,…