Ripple Valuation Hits $11.3 Billion, Holding $25B in Crypto Like XRP
Ripple’s moves to repossess sold shares have put the company’s valuation over $11 billion, with its bag of cryptocurrencies estimated at over $25 billion.
Ripple Valuation at $11.3B In a recent development, anonymous sources have confirmed that Ripple has taken steps to reclaim sold shares. In particular, the prominent payment firm will acquire $285 million worth of shares from early investors and employees.
The investment, or “a tender offer,” established Ripple’s valuation at $11.3 billion. It is crucial to highlight that investors are constrained to sell up to a maximum of 6% of their stake. This ensures a controlled and measured approach to the share buyback initiative.
Besides, Ripple has confirmed the tender offer and revealed its intention to allocate $500 million for the buyback. The funds will cover the costs of converting restricted stock units into shares and address tax obligations.
Furthermore, Ripple has indicated its commitment to conducting regular share buybacks, aiming to provide liquidity for investors. This strategic decision comes in the wake of the company’s shift in plans regarding the widely expected initial public offering (IPO).