San Francisco-based blockchain-based payments firm Ripple Labs has lost its lawsuit against its former partner R3 Holdco in a California court.

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The dispute started as R3 Holdco accused Ripple Labs of failing to pay 5 billion XRP tokens owed under the partnership agreement. Ripple later accused R3 of entering into the partnership under false pretences. The contested amount of Ripple tokens are worth over $16 billion – a number which can easily bring misery to the losing party.

R3 also filed lawsuits against Ripple in two ... (read more)