Ripple Launches a Buyback With $50 B Company Valuation — Bloomberg

Ripple has launched a share buyback program, valuing the company at $50 B. According to Bloomberg sources familiar with the matter, the firm plans to buy back up to $750 M in shares from investors and employees before April.

Earlier, Ripple attempted a buyback of roughly $1 B, valuing the business at $40 B. Employees showed limited interest in selling their shares at the time, opting instead to hold onto their stakes.

Since that attempt, the crypto market has seen a notable downturn. From its peak in early October, Bitcoin has lost more than 40%. XRP, the cryptocurrency tied to the Ripple ecosystem, has fallen by more than 50% over the same period.

Read also:

• Ripple CEO: The Clarity Act Could Be Passed As Early As April
• Ripple: Corporate Balance Sheets to Hold $1 T in Crypto by Year-End

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