Ripple and R3 Settle Multi-Billion dollar lawsuit

Ripple and R3 settled a multi-billion dollar lawsuit today. The lawsuit stems from the fact that R3 had the rights to buy 5 billion xrp at $.00085 anytime until the end of 2019. XRP’s current price represents a 30x increase over the agreed price meaning that R3 can purchase $1.9 billion worth of assets for only $42.5 million. The terms of the settlement are unknown but it can be assumed that it may be costly to the Ripple Foundation in either terms of XRP or cash. This does not end Ripple’s legal trouble as there are other class-action lawsuits coming in from investors that claim that XRP’s coin distribution makes it an Unregistered securities offering.

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