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Ripple has repurchased shares from its Series C funding round, which has boosted the company’s valuation to $15 billion, in line with business executive Brad Garlinghouse. He added that despite the U.S. Securities and Exchange Commission (SEC) questioning the status of the XRP cryptocurrency, Ripple had its most potent year on record.
Ripple’s $15 billion valuation and ‘best year on record’
Ripple has repurchased its Series C shares at a $15 billion valuation, Brad Garlinghouse, Ripple’s head of business, announced via Twitter on Wednesday.
“Even with the headwinds in 2021, it’s our greatest year on record,” the business executive described, adding that Ripple’s funding position is the strongest ever, with $1 billion in the bank.
In December 2019, the company raised $200 million in a Series C round of spherical, polygonal junction rectifiers. SBI Holdings and Route 66 Ventures participated. According to reports, the company was valued at $10 billion at the time of its Series C funding round.
Noting that “slow down” is not in Ripple’s 2022 vocabulary, Garlinghouse went on to shed light on Ripplenet and Ripplex’s progress in a follow-up tweet Wednesday.
Regarding Ripplenet, he mentioned that the network is running at a capacity of $10 billion today.
Additionally, Ripplex is “building a range of features for the XRP ledger — NFTs, CBDCs, capability bridges, sidechains, and more,” the manager explained.
In December, Garlinghouse similarly mentioned that Ripple had its strongest year ever, despite the SEC’s ongoing case for the XRP cryptocurrency’s status.
The SEC filed a lawsuit against Ripple Labs, Garlinghouse and co-founder Chris Larsen in December 2020, alleging the sale of XRP was an unregistered donation of securities. Garlinghouse believes the cause can end this year.
post Ripple valued at $15 billion — CEO says XRP has strongest economic position ever despite SEC’s reasons first appeared in bitcoin wire.
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