Crypto influencer BitBoy unveils explosive insights on the Ripple lawsuit as Ripple’s private shares surge on Linqto, indicating insider knowledge.
In a recent YouTube video, famous crypto influencer Ben Armstrong, also known as BitBoy Crypto, revealed explosive insights into the ongoing Ripple lawsuit and its potential implications for investors.
I've just gained info on a huge finding that may hint towards the end of the longstanding SEC v. Ripple lawsuit. In this video I detail everything you need to know and what it could mean for #XRP. ⚖️ https://t.co/6a8ojg4pWY pic.twitter.com/lqS2PvvNOW
— Ben Armstrong (@Bitboy_Crypto) June 9, 2023
While arguing that Ripple’s case with the US regulatory has already been decided based on insider information, Armstrong pointed to a significant development involving Ripple’s private shares on Linqto.
Notably, Linqto is a platform that offers investors the opportunity to purchase shares of a firm before its intended initial public offering (IPO).
According to Bitboy, Linqto has already acquired private equity shares of Ripple through stock options purchased from former advisors and company team members. He highlighted similar opportunities that have existed in the past, with private shares of prominent companies like Coinbase, Robinhood, and SoFi being available for purchase before their respective public listings.
Ripple Shares on Linqto Up 60%
BitBoy shared screenshots provided by Joey Swoll, a TikTok user familiar with private share prices, showcasing a recent remarkable increase in Ripple’s share prices.
Within just one week, Ripple private shares on Linqto witnessed a surge from a value of $35 observed on June 1 to a price of $56. This marked a 60% increase within seven days. Consequently, the total Ripple valuation surged from $5.7 billion to $9 billion. The screenshot from BitBoy showed that the share price surged to $63, as confirmed by an investor yesterday.
A Favorable End to the SEC Lawsuit?
The crypto influencer argued that these price movements are particularly significant when considered against recent negative actions taken by US regulators against major exchanges.
He speculated that the surge in Ripple’s private share prices could indicate two possible scenarios: either XRP will be relisted on Coinbase or insiders possess undisclosed information suggesting a favorable outcome for Ripple in the ongoing SEC lawsuit.
Notably, as The Crypt Basic captured, the crypto community has started campaigning for Coinbase and Binance U.S. to relist XRP, given that the SEC has categorized virtually all significant crypto assets as security.
Furthermore, Bitboy also discussed the possibility of Gary Gensler, the current SEC chairman, being removed from his position. This event could impact the outcome of the Ripple case.
While Armstrong made it clear that his video did not constitute financial advice, he urged viewers to consider the substantial increase in Ripple private share prices as a strong indication of something significant brewing behind the scenes.
As The Crypto Basic recently reported, other influential crypto figures like lawyer John Deaton have projected Ripple’s valuation above $100 billion after going public.
Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
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