owned by Ripple XRP Claims and speculations regarding the token continue to spread. A website recently claimed that the company is preparing to buy back 10 billion tokens. These claims in altcoin, which is also a favorite of Turkish investors, aroused great repercussions on social media. Here are the details of the news.
For the claims made by the website to come true Ripplewill need around $5 billion. Sources and lawyers close to the company quickly expressed their “concerns” and “attractions” about finding this money. John Deaton, who led the names who did not believe the news, announced that he did not believe the company would buy back 10 billion tokens before making an official statement.
Bill Morgan, known for his familiarity with the XRP token, expressed a similar view, bolstering John Deaton’s skepticism. Morgan notes the difficulty of finding the money to cover the bulk purchase at the current price. pulled.
Where are they obtaining the $5 Billion to buy it at its current price. Who would lend Ripple the funds, given the source, to buy back a token under a litigation cloud – unless there is another of funding such as an IPO. https://t.co/N1iF0BDzhQ
NEWS CONTINUES BELOW— bill morgan (@Belisarius2020) June 25, 2023
Morgan also cited the SEC lawsuit involving the XRP token and the continued “regulatory uncertainties” plaguing the industry, noting that it is difficult for Ripple to find a “lender”. Morgan suggests that unless Ripple has an alternative source of financing, such as an initial public offering (IPO), it may be difficult to obtain the necessary funds.
Responding to the comments of famous lawyers, another name reminded that the company already has a “trust” asset of around 50 billion tokens. For this reason, he believes the repurchase would be quite “unreasonable”. A different name pointed out that the website that published the allegations in question was new and the information was not based on any source.
You can follow the current price action here.