In a recent YouTube video, renowned crypto influencer Ben Armstrong, known as BitBoy Crypto, shared intriguing revelations regarding the ongoing Ripple lawsuit and an unexpected surge in Ripple’s private share prices on the Linqto platform. With implications of insider knowledge, Armstrong’s insights provide new perspectives on the legal battle and its potential outcomes.
Here’s How Ripple’s Private Shares Witness Significant Surge
Armstrong highlighted an intriguing development on Twitter involving Ripple’s private shares on Linqto, a platform offering pre-IPO investment opportunities. Drawing parallels with similar opportunities seen in other prominent companies, Armstrong pointed out that Linqto has acquired private equity shares of Ripple through stock options obtained from former advisors and team members.
Ripple Private Shares Soar by 60% in Just One Week
Notably, he also shared screenshots provided by Joey Swoll, a TikTok user familiar with private share prices, unveiling a remarkable surge in Ripple’s share prices. Within a span of just one week, Ripple’s private shares on Linqto experienced a surge from $35 on June 1 to $56, marking a substantial 60% increase. This surge elevated Ripple’s total valuation from $5.7 billion to $9 billion. Notably, an investor confirmed a share price of $63, as depicted in BitBoy’s screenshot.
To access the broader impact: Armstrong proposed two scenarios based on price patterns and previous regulatory measures against key exchanges. First, Ripple’s private share price increase may suggest a Coinbase relisting.
Second, insiders may have knowledge suggesting a positive outcome for Ripple in its SEC litigation. Given the SEC’s classification of crypto assets as securities, the crypto community has advocated for XRP’s relisting.
SEC Chairman’s Removal: Will it Impact?
Overall, he also touches base on the potential impact of Gary Gensler’s removal from his position as the SEC chairman on the outcome of the Ripple case. This development could significantly influence the regulatory environment and potentially shape Ripple’s legal victory.
The analyst urges in his video that it does not serve as financial advice, he advised viewers to acknowledge the substantial increase in Ripple’s private share prices as a compelling indication of significant developments unfolding behind the scenes. The insights shared by Armstrong align with other influential figures projecting Ripple’s valuation to exceed $100 billion after going public. What do you think about the move? Tell us.
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