Thursday, May 19

Ripple Announces $200M Share Buyback, Expresses Optimism For 2022 By Cointelegraph


©Reuters. Ripple announces $200 million share buyback and expresses optimism for 2022

The blockchain payments firm has announced a $200 million Series C share buyback, a move that will take the San Francisco-based tech firm to a record $15 billion valuation.

In December 2019, Ripple raised $200 million in a Series C funding round with Tetragon Financial Group, a UK-based investment firm, acting as lead investor alongside SBI Holdings and Route 66 Ventures.

However, in December 2020, the United States Securities and Exchange Commission issued a $1.3 billion financial lawsuit against Ripple Labs, as well as co-founder Chris Larsen and CEO Brad Garlinghouse, accusing the parties of using the native XRP token as an unlicensed digital asset value.

Read the full article on Cointelegraph

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