Today Ripple announced the closing of a $500 million strategic investment at a $40 billion valuation, led by funds managed by affiliates of Fortress Investment Group and Citadel Securities. The financing round also included Pantera Capital, Galaxy Digital, Brevan Howard and Marshall Wace.
It follows a $1 billion tender offer at the same valuation. Ripple owns 34.8 billion of escrowed XRP tokens, representing a third of all tokens. It is technically not correct to use the current market price for a valuation, given the escrowed tokens are not circulating. Otherwise, the value of the tokens alone would be $79 billion.
“This investment reflects both Ripple’s incredible momentum, and further validation of the market opportunity we’re aggressively pursuing by some of the most trusted financial institutions in the world,” said Brad Garlinghouse, Ripple CEO.
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