Bankruptcy Court Approves $130M Ripple Share Sale Led by Galaxy Digital

According to Coinpedia, a U.S. Bankruptcy Court approved the sale of approximately $130 million in Ripple shares held by bankrupt pre-IPO investment platform Linqto to four institutional buyers led by Galaxy Digital. Galaxy Digital is acquiring $60 million in shares, the largest allocation. Arrington Capital follows with $50 million, while Private Shares Fund and GAM Alternatives Lux are purchasing $16 million and $4 million respectively.

Ripple waived its right of first refusal to allow the transfers to proceed as part of Linqto's Chapter 11 restructuring. The transaction involves equity in Ripple Labs, not XRP tokens. Proceeds will support customer recoveries as the platform winds down operations.