Ripple has bought back shares from its Series C funding
Ripple has bought back shares from its Series C funding spherical, that raised the company’s valuation to $15 billion, in keeping with business executive Brad Garlinghouse. He value-added that despite the cause by the U.S. Securities and Exchange Commission (SEC) over the standing of XRP cryptocurrency, Ripple had the most effective year on record.
Ripple’s $15 Billion Valuation and ‘Best Year on Record’
Ripple business executive Brad Garlinghouse proclaimed via Twitter Wednesday that Ripple has bought back its Series C shares at a $15 billion valuation.
The business executive delineate that “Even with 2021’s headwinds, it had been our greatest year on record,” adding that Ripple’s money position is that the strongest it’s ever been, with $1 billion bucks within the bank.
In December 2019, the corporate raised $200 million within the Series C funding spherical, junction rectifier by polygonal shape. SBI Holdings and Route sixty six Ventures conjointly participated. in keeping with reports, the company’s valuation was $10 billion when the Series C funding spherical.
Noting that “slow down” isn’t in Ripple’s vocabulary for 2022, Garlinghouse proceeded to elucidate the progress of Ripplenet and Ripplex in follow-up tweets Wednesday.
Regarding Ripplenet, he aforementioned that the network features a volume run rate of quite $10 billion these days.
additionally, Ripplex is “establishing a mess of capabilities to the XRP ledger – NFTs, CBDCs, ability bridges, sidechains, and then far more,” the manager explained.
In December, Garlinghouse equally aforementioned that Ripple had their strongest year ever despite the continued cause brought by the U.S. Securities and Exchange Commission (SEC) over the standing of XRP cryptocurrency.
The SEC filed the cause against Ripple Labs, Garlinghouse, ANd co-founder Chris Larsen in December 2020 alleging that the sale of XRP was an unregistered securities giving. Garlinghouse believes that the cause can conclude this year.