Ripple announced a $200-million Series C share buyback to move forward with more development works.
Ripple is a San Francisco-based giant payment network company. This company is known for its high-level blockchain development works to push the world toward blockchain technology adoption in different ways like Digital payments services. Right now Ripple is also in support of a few Central banks to help them in the development of their sovereign digital currency.
Today Ripple announced that it is moving toward the more rapid development works in the capabilities of the XRP Ledger – NFTs, CBDCs, interoperability bridges work.
Ripple boss, Brad Garlinghouse, announced the repurchased of all Series C shares originally issued to Tetragon Financial Group. With this step, Ripple will touch a $15 billion valuation.
Ripple CEO noted that people are considering 2022 as slowing down but they will not just as they did better in 2021.
Through the tweets, Brad confirmed that Ripple is going stronger financially with its reserved bank balance.
“2022 – “slow down” is not in our vocabulary. Even with 2021’s headwinds, it was our best year on record, and Ripple’s financial position ($1B in the bank) is the strongest we’ve ever been.”
Ripple Vs SEC
Ripple is facing a lawsuit by US regulators that was raised in December 2020. According to the SEC agency, Ripple’s native token XRP is security and the company sold more than $1 billion worth of XRP tokens in the last 7 years was illegal because XRP selling was unregistered security selling publicly.
Current situations are showing the Ripple company is standing in a much better position against the US SEC agency.
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