Ripple Buys Back $285M Stake from Early Investors, Shuns IPO
Ripple, the company behind XRP, has announced a $285 million stake buyback from its early investors and employees as part of a $500 million strategy to restructure its finances and avoid an IPO. Ripple Labs Inc., the company that operates the XRP ledger and provides cross-border payment solutions, has revealed its plans to buy back […]
XRP Attorney Lays out Ripple’s Removal From NY Greenlist
John Deaton, the legal counsel for over 75,000 XRP token holders in the Ripple vs. SEC litigation, discussed New York developments. He claims that these actions have no “political or punitive” motivations. The New York Department of Financial Services (DFS) has garnered attention for its recent action of removing Ripple and Dogecoin from its list […]
Ripple Ensures Customer Security Amid Acquisition Transition
As reported in a news article, Ripple, a prominent player in cryptocurrency payments, has intervened to mitigate the financial losses suffered by clients of Fortress Trust, a blockchain infrastructure-focused startup. According to Fortress Trust, the incident was caused by a security vulnerability involving a third-party vendor’s compromised cloud tools. Ripple, already a minority investor in Fortress, […]
Ripple’s Fortress Trust Acquisition Expands US Licensing
Fortress possesses a Nevada Trust license, enabling them to provide asset custody services, whereas Ripple holds in excess of 30 licenses spanning various jurisdictions within the United States. Ripple, a financial technology company, has announced its intention to acquire Fortress Trust to acquire additional regulatory licenses in the United States. This development was disclosed in […]
Ripple CEO Enlists New Attorney For XRP Lawsuit
A new attorney appeared before the U.S. District Court for the Southern District of New York in the XRP litigation. A new attorney representing Ripple’s CEO, Brad Garlinghouse, appeared before the U.S. District Court for the Southern District of New York, which could signal the beginning of a new chapter in the XRP litigation. Following […]