Ripple Labs launches $750M share buyback, valuing firm at $50B
Crypto Briefing
Ripple Labs initiated a $750 million share buyback program, setting the company's valuation at approximately $50 billion.Summary
Ripple Labs has announced a $750 million share buyback program via a tender offer aimed at early investors and employees, which values the company at about $50 billion, solidifying its standing in the digital asset sector. This move follows a previous, less successful attempt to repurchase shares at a $40 billion valuation. The company previously raised $500 million in November at that $40 billion valuation and has been expanding through acquisitions, such as the $1.25 billion purchase of Hidden Road. The renewed buyback offer occurs despite a recent downturn in the broader crypto market, where Bitcoin and XRP experienced significant declines.
(Source：Crypto Briefing)