2024

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Ripple Labs, the blockchain-based payment protocol, has <a href="https://finance.yahoo.com/news/ripple-announces-285m-shares-buyback-070043977.html#:~:text=Crypto%2Dpayments%20firm%20Ripple%20Labs,to%206%25%20of%20their%20holdings." rel="noopener noreferrer nofollow">announced</a> a substantial $285 million share buyback from its early investors. According to a company spokesperson, this initiative has propelled the company’s valuation to an impressive $11.3 billion, showcasing Ripple’s confidence in its growth trajectory and its commitment to enhancing shareholder value.
Also reported by Reuters, the $285 million share buyback is a notable development in the cryptocurrency and blockchain space, emphasizing Ripple’s financial strength and ability to generate significant returns.
<h2 id="b-ripple-labs-positions-itself-for-further-expansion-b">Ripple Labs Positions Itself for Further Expansion</h2>
By purchasing shares from its early investors, Ripple Labs aims to consolidate ownership and position itself for further expansion and innovation in the competitive digital payments landscape. The buyback also reflects the company’s belief that the current valuation does not fully capture its growth prospects and the value it brings to the fintech sector.
Reports also revealed that the early investors will sell 6% of their holdings. Meanwhile, Ripple intends to spare $500 million, which will be used to cover the costs of converting restricted stock units into shares and taxes. Notably, the share buyback further solidifies Ripple’s position as a key player with a clear strategy for sustained growth.
<h2 id="b-ripple-labs-expand-outside-the-u-s-b">Ripple Labs Expand Outside the U.S</h2>
In the past, Ripple made many such moves as part of its strategy to expand its business outside the United States amidst its legal debacle with regulators in the region. The expansion outside the United States has led the crypto firm to bag different licenses from several jurisdictions. In October 2023, <a href="https://thecoinrise.com/ripple-receives-digital-assets-license-to-operate-in-singapore/" rel="noopener noreferrer nofollow">Ripple received a Major Payments Institution (MPI) license</a> from the Monetary Authority of Singapore (MAS).
Furthermore,<a href="https://thecoinrise.com/ripple-expands-into-africa-after-launches-new-payment-platform/" rel="noopener noreferrer nofollow"> Ripple launched a new platform for settlements in Africa.</a> The platform, which is called Ripple Payments, is designed to facilitate cross-border payments in the region. The firm is likely to delve into more jurisdictions this year.
<h2 id="b-ripple-labs-vs-sec-lawsuit-ends-in-2024-b">Ripple Labs vs SEC Lawsuit Ends in 2024</h2>
As an experienced lawyer, Stuart Alderoty, Ripple Labs Chief Legal Officer, <a href="https://thecoinrise.com/ripple-clo-projects-the-end-to-sec-lawsuit-in-2024/" rel="noopener noreferrer nofollow">seemed to be more interested in what 2024 holds for crypto regulation</a>. His first point of call was the three-year-long “misguided” Ripple lawsuit with the Securities and Exchange Commission (SEC). The Ripple CLO is positive that 2024 will be the end of the lawsuit.
His positivity concerning the case does not come as a surprise because a crucial part of the lawsuit has been dealt with this year. Recall that, Judge Analisa Torres ruled in favor of Ripple when she said XRP is not securities. The <a href="https://thecoinrise.com/ripple-clo-projects-the-end-to-sec-lawsuit-in-2024/" rel="noopener noreferrer nofollow">SEC tried to counter this verdict</a>, citing how it gives precedent to other existing lawsuits.
The post <a href="https://thecoinrise.com/ripple-unveils-285m-share-buyback-from-early-investors/" rel="noopener noreferrer nofollow">Ripple Unveils $285M Share Buyback from Early Investors</a> appeared first on <a href="https://thecoinrise.com" rel="noopener noreferrer nofollow">Latest News and Insights on Blockchain, Cryptocurrency, and Investing</a>.

Ripple Unveils $285M Share Buyback from Early Investors

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