The SEC-Ripple lawsuit remains in the dark as both cannot agree on the nature of the documents. However, according to Mike Novogratz, founder and CEO of Galaxy Digital, the price of XRP will not lag behind the market. Berkshire Hathaway, the holding company of Warrant Buffet, came to the fore with its 500 million dollar investment despite the uncertainty of the process.
Berkshire Hathaway invests in RippleNet member bank
Warren Buffet’s holding company, Berkshire Hathaway, has made a $500 million investment in Brazilian digital bank Nubank. Latin America NEO bank is the largest financial technology bank in the region. It is a member of RippleNet and has engineering offices in Berlin, Argentina and Mexico City.
The bank recently announced the investment
Nubank’s partnership with RippleNet came to light at about the same time that Buffett’s Berkshire Hathaway invested $500 million. In Ripple (XRP)’s defense against charges made by the Securities and Exchange Commission (SEC), the firm claimed that the SEC “failed to explain” the link between the three extra documents (requested by Ripple) and the decision-making process.
Ripple’s file dated October 22 reiterates that the documents are highly relevant to the defense. Also, Judge Netburn ordered the SEC to respond to Ripple’s inquiries and determine the terms of the “investment contract” from XRP sales. Emir says:
Accordingly, Defendants’ motion regarding Ripple Inquiry No. 2 has been GIVEN, and the SEC must complete its response to Inquiry No. 2 to identify any specific contractual terms, not just implied and express promises as noted earlier.
Mike Novogratz expects 3x the price of Ripple!
Mike Novogratz, founder and CEO of Galaxy Digital, argued that community resistance in the SEC and Ripple lawsuit has caused the price of XRP to triple in spite of the ongoing litigation. Novogratz said of the company:
Ripple is a diversified financial services and investment management innovator in the cryptocurrency and blockchain technology industry.
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