Blockchain consortium R3 has sued its partner Ripple , after the blockchain consortium offered shareholders the option to purchase 1 billion XRP at an exercise price of $ 500 , despite an alleged agreement between the firms . Currently , the currency trades at more than $ 0.20 , making the options worth more than $ 1bn . In response to the lawsuit , Ripple countersued on the grounds that R3 misled the company into entering into the partnership . Under the agreement , shareholders would receive a total of 15 % of the revenue Ripple receives from any bank that participates in their partnership , Ripple said .
Blockchain consortium R3 has sued its partner Ripple, after the blockchain company denied R3 the option to purchase 5 billion XRP at an exercise price of $0.0085, despite an alleged agreement between the firms. Currently, the currency trades at more than $0.20, making the options worth more than $1bn. In response to the lawsuit, Ripple countersued on the grounds that R3 misled the company into entering into the partnership. Under the agreement, R3 would receive a share of 15% of the revenue Ripple received from any bank that participates in their partnership, Ripple said.