{"id":9693,"date":"2024-01-11T09:53:20","date_gmt":"2024-01-11T07:53:20","guid":{"rendered":"https:\/\/forklog.com\/en\/ripple-to-repurchase-shares-valuing-company-at-11-3-billion\/"},"modified":"2024-01-11T09:53:20","modified_gmt":"2024-01-11T07:53:20","slug":"ripple-to-repurchase-shares-valuing-company-at-11-3-billion","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/ripple-to-repurchase-shares-valuing-company-at-11-3-billion\/","title":{"rendered":"Ripple to Repurchase Shares Valuing Company at $11.3 Billion"},"content":{"rendered":"<p>Ripple will allocate $285 million to buy back its shares from early investors, valuing the fintech company at $11.3 billion, according to sources cited by <a href=\"https:\/\/www.reuters.com\/technology\/ripple-buy-back-285-million-its-shares-valuing-company-11-bln-sources-2024-01-10\/\">Reuters<\/a>.<\/p>\n<p>Under the offer, investors can sell up to 6% of their holdings.<\/p>\n<p>Ripple stated it will spend $500 million on the entire program, including costs for converting restricted securities into shares and taxes.<\/p>\n<p>According to CEO Brad Garlinghouse, the company holds $1 billion in cash and $25 billion in digital assets, primarily in XRP.<\/p>\n<p>The executive ruled out an <span data-descr=\"initial public offering\" class=\"old_tooltip\">IPO<\/span> in the US, citing regulatory uncertainty. He promised to expand the share buyback program and conduct it regularly.<\/p>\n<p>The current offer was made possible after Ripple&#8217;s partial victory in its case against the <span data-descr=\"US Securities and Exchange Commission\" class=\"old_tooltip\">SEC<\/span>, which had been ongoing since 2020.<\/p>\n<p>In July 2023, Judge Analisa Torres ruled that programmatic sales and other distributions of XRP tokens do not constitute investment contracts. However, the decision stated that the distribution of the asset among institutional industry participants violated securities laws.<\/p>\n<p>Earlier in May, Ripple Labs agreed to acquire the Switzerland-based infrastructure company Metaco for $250 million.<\/p>\n<p>Recently, Garlinghouse, commenting on the <a href=\"https:\/\/forklog.com\/en\/news\/secs-x-account-hacked-to-announce-fake-bitcoin-etf-approval\">hacking of the SEC&#8217;s X account<\/a>, <a href=\"https:\/\/forklog.com\/en\/news\/ripple-ceo-suggests-sec-should-investigate-itself-after-account-hack\">suggested<\/a> that the regulator should investigate &#8220;itself.&#8221; <\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ripple will allocate $285 million to buy back its shares from early investors, valuing the fintech company at $11.3 billion, according to sources cited by Reuters. Under the offer, investors can sell up to 6% of their holdings. Ripple stated it will spend $500 million on the entire program, including costs for converting restricted securities [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":9692,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[112,1211],"class_list":["post-9693","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ripple","tag-stock-market"],"aioseo_notices":[],"amp_enabled":true,"views":"63","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/9693","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=9693"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/9693\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/9692"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=9693"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=9693"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=9693"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}