![]() Ripple has repurchased $200 million worth of Series C stock, a decision that will take the San Francisco-based technology company to a record high valuation of $15 billion. When reaching out to Ripple to better understand their ambitions, a representative spokesperson stated that the decision to buy was made due to their “solid position in the market,” citing that the company is “cash flow positive” and has a “strong balance sheet.” It’s a multichain world after all ? 4/4Īlong with the acquisition and valuation news, Garlinghouse also shared optimism for the future of RippleNet and Ripple X, the latter of which is posed to enhance the utility of the XRP Ledger in an array of emerging sectors, including nonfungible tokens, central bank digital currencies, as well as interoperable, multichain functionalities, among others. RippleX – full speed ahead on establishing a multitude of capabilities to the XRP Ledger – NFTs, CBDCs, interoperability bridges, sidechains and so much more – working hand in hand with devs and partners around the world. Choosing to buy shares from Tetragon, SBI Holdings, and Route 66 Ventures implies that Ripple wants to enhance its financial strength. ![]() However, just three months later, in April, the court ruled in favor of Ripple and against the plaintiff, Tetragon, ending the financial dispute. Intending to separate themselves from Ripple amid their public and well-known lawsuit, Tetragon sued Ripple in early January 2021 in the Delaware Premier Court, seeking to fulfill the contractual obligations of the acquisition clause for the value of the investment was not disclosed. However, in December 2020, the United States Securities and Exchange Commission (SEC) launched a $1.3 billion financial lawsuit against Ripple Labs, and co-founders Chris Larsen and CEO Brad Garlinghouse accused parties of using XRP unlicensed digital asset security. In December 2019, Ripple raised $200 million in a Series C funding round with Tetragon Financial Group, a United Kingdom-based investment firm, acting as the lead investor alongside SBI Holdings and Route 66 Ventures. Ripple announces $200 million share buyback and expresses optimism for 2022 Ripple, the blockchain payments firm, has repurchased all Series C shares originally issued to Tetragon Financial Group, SBI Holdings, and Route 66 Ventures in December 2019.
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