Ripple Hits $15 Billion Valuation, XRP Price Up 5%

San Francisco-based blockchain firm Ripple has reached a $15 billion valuation after buying back shares from investors participating in the Series C round.

In a recent Twitter thread, CEO Brad Garlinghouse wrote that the company’s finances are now at peak despite regulatory woes in the US. Last month, Garlinghouse said 2021 was the strongest year in company history.

The company’s Ripple token is up 5% in the last 24 hours and is trading at $0.62.

Source: TradingView

Ripple reached a valuation of around $9.8 billion in 2019 after raising $200 million in a funding round led by British investment firm Tetragon Financial Group.

After the US Securities and Exchange Commission (SEC) hit with a major lawsuit in December 2020, Tetragon tried to get its investment back. In the lawsuit, the asset management company asked a judge to freeze Ripple’s cash until Series C shares can be redeemed for cash.

The blockchain company won this small lawsuit, successfully arguing that the court has not yet decided whether XRP should be classified as an unregistered security. Tetragon has now sold back its stake in Ripple, cutting ties with the company while recovering 50% of its original investment, despite losing the lawsuit. Letting Tetragon go with a high yield can be seen as the best way to get rid of hostile investors.

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