Ripple, a blockchain business based in San Francisco. Of course, has hit a valuation of $15 billion after buying back shares from investors in its Series C financing.
Despite legal issues in the United States, CEO Brad Garlinghouse noted in a recent Twitter thread. Then states that the company is now in its healthiest financial position ever.
Despite legal issues in the United States, CEO Brad Garlinghouse notes in a recent Twitter thread. Of course, saying that the company is now in its healthiest financial position ever.
He claims that the corporation has a $1 billion war chest. Garlinghouse announced last month that 2021 will be the best year in the company’s history.
According to CoinMarketCap data, XRP has gained 5% in the previous 24 hours. Ripple was valued at $9.8 billion in 2019 after raising $200 million in a funding round. Which was headed by Tetragon Financial Group, a British investment firm.
Tetragon attempted to recoup its investment after the US Securities and Exchange Commission filed a huge lawsuit against the decacorn in December 2020. The asset manager requested that the judge suspend Ripple’s liquid assets until its Series C stock could be redeemed for cash in its case.
The blockchain campaign won this legal battle by contending that the court has yet to decide whether or not XRP should be categorized as an unregistered security.
Tetragon has terminated relations with Ripple by selling its shares back to the business. Despite losing the lawsuit, the aggrieved asset manager received a 50 percent return on its initial investment when its stock was acquired back at a $15 billion price.
Allowing Tetragon to walk away with a tidy profit could have been seen as the best way to get rid of the sour investor.