Ripple Labs Plans $285 Million Share Repurchase In Response To Market Dynamics

2024-1-15 02:15

Ripple Labs has unveiled its intention to conduct a share repurchase, or tender offer, valued at $285 million, targeting initial investors and staff members.

This move places the company’s valuation at an impressive $11.3 billion. According to sources from Reuters, participants in this tender offer are restricted to selling a maximum of 6% of their holdings.

In alignment with this initiative, the privately held firm has allocated $500 million for the share repurchase. The primary objective behind this significant investment is to cover expenses related to meeting tax obligations and the conversion of restricted stock units into shares.

ICYMI: @Ripple Labs makes waves with a jaw-dropping $285 million share buyback! This strategic move, known as a tender offer, features investor restrictions, limiting stake sales to 6%. Read more on our website: #Ripple #CryptoNews #Investinghttps://t.co/gMqkPTjEKa

— BSCN (@BSCNews) January 13, 2024

The announcement of the share repurchase aligns with the current dynamics in the market, notably influenced by developments in Bitcoin (BTC) and BTC-spot ETFs. The news surrounding BTC-spot ETFs has triggered heightened demand for Bitcoin and other cryptocurrencies. This surge in interest has sparked discussions about the potential expansion of the broader crypto-spot ETF market.

Grayscale Adds Ripple XRP In Digital Large Cap Fund

Adding an intriguing layer to the unfolding narrative, Grayscale recently included XRP in its Digital Large Cap Fund (GDLC), fueling speculations about the potential introduction of an XRP-spot ETF.

Ripple CEO Brad Garlinghouse has affirmed that the company holds over $1 billion in cash, coupled with cryptocurrency assets exceeding $25 billion, with a significant portion represented by XRP tokens.

As of now, the sixth-largest cryptocurrency, XRP, is trading at $0.5726, registering a modest 4% decline in the daily chart. Ripple’s strategic move with the share repurchase reflects its proactive stance amid evolving market dynamics and the broader landscape influenced by cryptocurrency developments.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Image Source: promesaartstudio/123RF // Image Effects by Colorcinch

Similar to Notcoin - TapSwap on Solana Airdrops In 2024

origin »

Ripple (XRP) на Currencies.ru

$ 0.5175 (+0.21%)
Объем 24H $1.08b
Изменеия 24h: 2.32 %, 7d: -1.19 %
Cегодня L: $0.4975 - H: $0.5175
Капитализация $28.649b Rank 7
Цена в час новости $ 0.5811 (-10.94%)

ripple share repurchase million labs 285 members

Источник: nulltx.com

ripple share → Результатов: 109


Ripple (XRP) Needs to Exhibit These Three Moves to Go Parabolic: Analyst

Analysts JD and Cryptotoes share crucial insights about Ripple (XRP), providing a glimpse into the potential for a parabolic move. JD lays out three key factors that could pave the way for a parabolic move in Ripple XRP: JD tantalizingly mentions that once these conditions align, smart money—representing 5% of investors—might seize the opportunity for […] The post Ripple (XRP) Needs to Exhibit These Three Moves to Go Parabolic: Analyst appeared first on CaptainAltcoin.

2023-11-28 20:30


Blockchain in Payments Report 2020: From Adoption To Growth

For the third straight year, Ripple is excited to share its annual Blockchain in Payments Report—a comprehensive look into the fintech industry and blockchain’s increasing role in payments. This year’s report uncovered that not only is growth indeed possible for blockchain and digital assets initiatives, but that familiarity and positive sentiment continue to rise as … Continued The post Blockchain in Payments Report 2020: From Adoption To Growth appeared first on Ripple.

2020-10-16 21:06


Стартап Ripple объявил о новом партнерстве — XRP подорожал на 12%

Финтех-стартап Ripple заключил партнерство с провайдером денежных переводов компанией International Money Express Inc. (Intermex). На фоне новости цена токена XRP выросла за сутки на 12,01%. In an important step in changing the status quo of today’s slow and expensive cross-border #payments, we are thrilled to share a new partnership with @IntermexWire.

2020-2-5 14:15


Ripple’s Open Developer Platform Xpring Launches DevRel To Better Connect With The Community

In an official announcement published by Warren Paul on Xpring’s official blog, the Ripple product will introduce Xpring Developer Relations, or Xpring DevRel in short. According to the post the Xpring DevRel will have social media forums and a community page that will assist developers working on Xpring and share key information on development progress […]

2020-2-3 16:45


Фото:

Do the Math: XRP is One Tenth As Volatile As Fiat for Cross-Border Transactions

Many consider data transparency the foundation of truth. It gives people access to information and an opportunity to form their own, unbiased opinions. At Ripple, we provide transparency about Ripple’s sales of the digital asset XRP through our quarterly reporting, and we continue to find other ways to share new useful data and insights about … Continued The post Do the Math: XRP is One Tenth As Volatile As Fiat for Cross-Border Transactions appeared first on Ripple.

2019-11-1 20:29


Фото:

Богатейший человек в криптоиндустрии занялся регулированием финтеха

Группа предпринимателей и инвесторов, в которую вошел один из богатейших участников криптоиндустрии, исполнительный директор Ripple Крис Ларсен, объявила о создании альянса The Alliance for Innovative Regulation (AIR).

2019-10-31 08:13


дальше еще 60 новостей →

Партнеры Currencies.ru

Реклама на Currencies.ru

Самое свежее на Currencies.ru

Tether CEO slams Ripple chief’s USDT remarks: Here’s what he said

Tether CEO Paolo Ardoino has slammed Ripple CEO Brad Garlinghouse’s remarks that the US government is “going after” Tether (USDT) as mere “FUD.” The Tether CEO also hit back at Garlinghouse as a CEO at the helm of a company currently under investigation by the US Securities and Exchange Commission (SEC). UDST is the world’s […]

SEC files final response in XRP lawsuit, rejects Ripple’s claims

The United States States Securities and Exchange Commission (SEC)  has filed its final response to its ongoing lawsuit against Ripple. According to the filing, the commission has refuted Ripple’s claims that it acted without recklessness in handling the XRP cryptocurrency.…

SEC calls Ripple’s proposed stablecoin an ‘unregistered crypto asset’

The US Securities and Exchange Commission (SEC) appears to be targeting Ripple’s proposed stablecoin in its latest court filing against the crypto company. In its May 7 redacted remedies reply brief, the regulator described the proposed stablecoin as an “unregistered crypto asset” and further evidence that the company will continue to engage in unregulated activities […] The post SEC calls Ripple’s proposed stablecoin an ‘unregistered crypto asset’ appeared first on CryptoSlate.

Bitcoin ETFs in the US see $15.7 million in outflows

Quick Take US Bitcoin ETFs saw an outflow of $15. 7 million on May 7, marking the first day of outflows since May 2. According to data from Farside, Grayscale’s GBTC was responsible for the negative trend, as it recorded $28.