- Ripple has begun a share buyback program, offering up to $750 million for shares from employees and investors.
- The buyback, expected to run through April, values the crypto financial services company at $50 billion.
- This valuation is a 25% increase from the firm’s $40 billion valuation when it raised $500 million in November.
- CEO Brad Garlinghouse has stated his belief that Ripple has a path to become a trillion-dollar crypto company.
Ripple has initiated a share buyback program valued at up to $750 million, according to a report from Bloomberg. The offer, which runs through April, places a $50 billion valuation on the XRP-linked firm.
This represents a significant 25% premium over its last funding round. In November, the company raised $500 million at a $40 billion valuation with backing from major financial firms.
Consequently, this move provides liquidity to early backers while the company pursues ambitious growth. CEO Brad Garlinghouse recently said, “I think Ripple has the opportunity… to be that company,” referring to a potential trillion-dollar valuation.
He called the XRP token the firm’s “north star,” though its price has fallen nearly 62% from its July all-time high. Meanwhile, Ripple has aggressively expanded through acquisitions like Hidden Road and GTreasury.
The company’s own stablecoin, RLUSD, now holds a market cap of $1.57 billion, according to data from DeFiLlama. This activity underscores Ripple’s continued evolution beyond its original payments focus.
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