Ripple has actually redeemed shares from its Series C financing round, which elevated the firm’s valuation to $15 billion, according to CEO Brad Garlinghouse. He included that despite the lawsuit by the U.S. Securities and also Exchange Commission (SEC) over the standing of XRP cryptocurrency, Ripple had the very best year on document.
Ripple’s $15 Billion Valuation and also ‘Best Year on Record’
Ripple CEO Brad Garlinghouse introduced through Twitter Wednesday that Ripple has actually redeemed its Series C shares at a $15 billion valuation.
The CEO explained that “Even with 2021’s headwinds, it was our best year on record,” including that Ripple’s financial position is the strongest it has actually ever been, with $1 billion bucks in the financial institution.
In December 2019, the firm elevated $200 million in the Series C financing round, led by Tetragon. SBI Holdings and also Route 66 Ventures additionally took part. According to records, the firm’s valuation was $10 billion after the Series C financing round.
Noting that “slow down” is not in Ripple’s vocabulary for 2022, Garlinghouse continued to discuss the development of Ripplenet and also Ripplex in follow-up tweets Wednesday.
Regarding Ripplenet, he stated that the network has a quantity run price of greater than $10 billion today. In enhancement, Ripplex is “establishing a multitude of capabilities to the XRP ledger – NFTs, CBDCs, interoperability bridges, sidechains, and so much more,” the exec discussed.
In December, Garlinghouse likewise stated that Ripple had their strongest year ever despite the continuous lawsuit brought by the U.S. Securities and also Exchange Commission (SEC) over the standing of XRP cryptocurrency.
The SEC submitted the lawsuit versus Ripple Labs, Garlinghouse, and also founder Chris Larsen in December 2020 affirming that the sale of XRP was a non listed safeties offering. Garlinghouse thinks that the lawsuit will certainly end this year.
What do you think of Ripple’s success despite the SEC lawsuit over XRP? Let us understand in the remarks area listed below.
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