qto

ChainCatcher news, according to GMGN data, possibly influenced by the launch of Moonshot, QTO's market cap briefly rose above 58 million USD, currently reported at 57.76 million USD, with a daily increase of over 95%.Meme coin prices are highly volatile, investors please be aware of the risks.

According to ChainCatcher news, as revealed by crypto journalist Eleanor Terrett, lawyer John E Deaton has filed a securities fraud class action lawsuit against Linqto founder and former CEO William Sarris on behalf of thousands of retail investors.The lawsuit claims that Sarris implemented a years-long fraudulent scheme by selling shares of private companies such as Ripple, Uphold, and Kraken on the Linqto platform through SPVs (Special Purpose Vehicles) with undisclosed markups of up to 60%, misleading waiver statements, and unlicensed sales.According to the complaint, Sarris received internal legal memos from the company in 2023 and 2024 that explicitly warned that these issuance activities violated multiple SEC and FINRA regulations, including acting without a registered broker-dealer and operating an unregistered investment company, yet he chose to ignore them. Deaton stated that this lawsuit is against Sarris personally and is not subject to bankruptcy protection.

ChainCatcher news, according to Cointelegraph, the private investment platform Linqto has filed for Chapter 11 bankruptcy protection in the Southern District of Texas. The company holds 4.7 million shares of Ripple purchased through the secondary market, estimated to be worth about $450 million at current market prices. Ripple CEO Brad Garlinghouse previously clarified that Linqto is merely a shareholder and there is no business relationship between the two parties.According to court documents, Linqto has been accused of securities violations, including selling shares of private companies to unqualified investors. The U.S. Securities and Exchange Commission (SEC) has launched an investigation into potential violations. The bankruptcy protection hearing is scheduled for July 10 at 5 AM Beijing time.

ChainCatcher news, according to The Wall Street Journal, investment firm Linqto was the first to open private stock trading channels for ordinary investors, but is now facing a federal investigation due to its own business operations and may even file for bankruptcy.Ripple CEO Brad Garlinghouse stated, "It is understandable that investors have questions about the Ripple stock purchased by Linqto. It should be noted that the 4.7 million shares of Ripple held by Linqto were all acquired from other shareholders in the secondary market and were never directly traded with Ripple.Aside from being a shareholder, Linqto has no business dealings with Ripple. In light of the increasing doubts, we have ceased approving further stock purchases by Linqto as of the end of 2024."