Ripple Labs Inc. will not be able to settle its high-profile dispute with rival R3 Holdco in California. Instead, the obviously-not-decentralized cryptocurrency company will have to duke it out in the away territory of New York City.
Clash of the Titans
A San Francisco state appeals court has recently denied Ripple’s attempt to expedite an appeal which would resolve a lawsuit against R3 Holdco. Instead, the lawsuit will likely play out in a New York court — something Ripple is definitely not keen on, claiming the company would likely face “irreparable injury.”
The battle between the two massive blockchain developers is not particularly new, and the San Francisco state appeals court’s decision isn’t going to make it die any younger. As reported by Bloomberg, Ripple and R3 have been duking it out over more than $1 billion in virtual currency options since September 2017.
The battle primarily began when R3, a powerful blockchain startup which leads more than 100 firms, filed a lawsuit against Ripple Labs Inc. The lawsuit accuses Ripple of failing to honor an agreement which would’ve rightfully provided R3 with an estimated $1 billion in XRP. Likewise, Ripple fired back …
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