Ripple, a major player in the cryptocurrency market, has announced a significant repurchase of its shares, totaling $285 million.
This move has raised the company’s valuation to $11 billion. Brad Garlinghouse, Ripple’s CEO, mentioned that due to ongoing regulatory uncertainties in the U.S., the company has no immediate plans to go public.
The company is financially stable, holding over $1 billion in cash and over $25 billion in crypto assets in XRP coins.
This financing comes from a victory against the U.S. Securities and Exchange Commission (SEC), where a judge ruled that XRP sales were not unregistered securities offerings.
