2024

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 <p class="is-style-lead">Ripple Labs initiated a $285 million share buyback, valuing the company at $11.3 billion, amid regulatory uncertainties.</p> 
 <p>On Jan. 10, Ripple Labs, a cryptocurrency company famous for XRP, announced a buyback of $285 million in company shares from early investors and employees, valuing the firm at $11.3 billion. The <a rel="dofollow" title="tender" href="https://thebittimes.com/tag/tender.html">tender</a> <a rel="dofollow" title="offer" href="https://thebittimes.com/tag/offer.html">offer</a> allows investors to sell up to 6% of their <a rel="dofollow" title="stake" href="https://thebittimes.com/tag/stake.html">stake</a>.</p> 
 <p>Confirming the buyback, Ripple disclosed <a rel="dofollow" title="plans" href="https://thebittimes.com/tag/plans.html">plans</a> to allocate $500 million for the <a rel="dofollow" title="repurchase" href="https://thebittimes.com/tag/repurchase.html">repurchase</a>, covering the conversion of restricted stock units into shares and associated taxes.</p> 
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    <p lang="en" dir="ltr">Ripple to buy back $285 million of its shares, valuing company at $11 bln – sources https://t.co/qK0NXKYRLt pic.twitter.com/maaeoF0TXN</p>— Reuters (@Reuters) January 10, 2024
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 <p>Ripple aims to conduct regular share buybacks to enhance liquidity for investors and has no immediate <a rel="dofollow" title="plans" href="https://thebittimes.com/tag/plans.html">plans</a> to go public in the U.S., citing regulatory uncertainties, as stated by CEO Brad Garlinghouse. The company currently holds over $1 billion in cash and more than $25 billion in crypto, mainly XRP coins.</p> 
 <p>This move follows Ripple’s recent legal victory against the U.S. Securities and Exchange Commission (SEC), where a U.S. District Judge ruled that XRP sales on public exchanges were not unregistered securities <a rel="dofollow" title="offer" href="https://thebittimes.com/tag/offer.html">offer</a>ings.</p> 
 <p>Established in 2012, Ripple focuses on developing a payment system that facilitates cross-border transactions, promoting the use of XRP. Despite challenges posed by the SEC lawsuit, Garlinghouse noted that 95% of their customers are non-U.S. financial institutions. </p> 
 <p>As of Wednesday, XRP’s market cap stands at $30 billion.</p> 
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  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> XRP price to maintain bullish momentum, analyst predicts 
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<p>Source: <a rel="dofollow" target="_blank" href="https://thebittimes.com/ripple-labs-plans-to-repurchase-285m-stake-in-tender-offer-tbt76215.html">https://thebittimes.com/ripple-labs-plans-to-repurchase-285m-stake-in-tender-offer-tbt76215.html</a></p>

Ripple Labs plans to repurchase $285m stake in tender offer

TheBitTimes

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