Ripple share buyback program values the firm at $50 billion: Bloomberg
Ripple is initiating a share buyback program that values the company at approximately $50 billion, up from its November valuation.Summary
Blockchain company Ripple has started a share buyback program, potentially valuing the firm at around $50 billion, according to a Bloomberg report citing sources familiar with the matter. The company plans to repurchase up to $750 million in shares from investors and employees via a tender offer running through April. This new valuation marks a 25% increase from the $40 billion valuation achieved during its $500 million funding round in November, despite a concurrent downturn in the broader crypto market where Bitcoin and XRP saw significant declines. Ripple, a key contributor to the XRP Ledger network, has been expanding aggressively through acquisitions, including Hidden Road and GTreasury, and is also issuing a U.S. dollar stablecoin.
(Source：CoinDesk)