Ripple Scores $15 Billion Valuation — CEO Says Financial Position Is Strongest Ever Despite SEC Lawsuit Over XRP

Ripple has bought backmost shares from its Series C backing round, which raised the company’s valuation to $15 billion, according to CEO Brad Garlinghouse. He added that contempt the suit by the U.S. Securities and Exchange Commission (SEC) implicit the presumption of XRP cryptocurrency, Ripple had the champion twelvemonth connected record.

Ripple’s $15 Billion Valuation and ‘Best Year connected Record’

Ripple CEO Brad Garlinghouse announced via Twitter Wednesday that Ripple has bought backmost its Series C shares astatine a $15 cardinal valuation.

The CEO described that “Even with 2021’s headwinds, it was our champion twelvemonth connected record,” adding that Ripple’s fiscal presumption is the strongest it has ever been, with $1 cardinal dollars successful the bank.

In December 2019, the institution raised $200 cardinal successful the Series C backing round, led by Tetragon. SBI Holdings and Route 66 Ventures besides participated. According to reports, the company’s valuation was $10 cardinal aft the Series C backing round.

Noting that “slow down” is not successful Ripple’s vocabulary for 2022, Garlinghouse proceeded to explicate the advancement of Ripplenet and Ripplex successful follow-up tweets Wednesday.

Regarding Ripplenet, helium said that the web has a measurement tally complaint of much than $10 cardinal today. In addition, Ripplex is “establishing a multitude of capabilities to the XRP ledger – NFTs, CBDCs, interoperability bridges, sidechains, and truthful overmuch more,” the enforcement explained.

In December, Garlinghouse likewise said that Ripple had their strongest twelvemonth ever contempt the ongoing suit brought by the U.S. Securities and Exchange Commission (SEC) implicit the presumption of XRP cryptocurrency.

The SEC filed the suit against Ripple Labs, Garlinghouse, and co-founder Chris Larsen successful December 2020 alleging that the merchantability of XRP was an unregistered securities offering. Garlinghouse believes that the suit will conclude this year.

What bash you deliberation astir Ripple’s achievements contempt the SEC suit implicit XRP? Let america cognize successful the comments conception below.

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