Ripple Labs will buy back $285 million worth of shares from the company’s original investors and employees.
According to the news dated January 10, based on sources from Reuters Ripple’s the company behind Ripple Labs, to its initial investors and hundreds of millions of dollars will buy back the shares announced.
company value $11.3 billion Sources, who did not want to be named while making the announcement, said that investors’ shares were only to 6% He added that he was allowed to sell up to The step in question is currently available to investors and shareholders without making a public offering. $285 million It aims to provide liquidity.
Ripple CEO Brad Garlinghouse said in a statement that the company from $1 billion excess cash and from 25 billion dollars He said that there is a lot of cryptocurrency assets. The CEO also stated that they have no intention of going public in the USA anytime soon.
The buyback decision in question US Securities and Exchange Commission (SEC) It is stated that the positive results of the legal struggle against the
Ripple CTO David Schwartz, which the CEO also mentioned, is under the control of the company. 40 billion XRP He said there were only two options.
According to CoinGecko data, XRP, 32 billion dollar largest by value 6. as cryptocurrency positioning. XRP in the last 24 hours at the time of writing 4.8% with rise from $0.592 is being traded.