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How Ripple Pulled Off the Year’s Biggest Crypto Raise While XRP Tumbled 40%
Ripple’s recent $500 million share sale attracted top Wall Street investors, but its structure showed just how carefully traditional finance now treads in digital assets. Citadel Securities, Fortress Investment Group, Marshall Wace, Brevan Howard, Galaxy Digital, and Pantera Capital participated in the November round. The deal valued Ripple at $40 billion, a record for a privately held crypto company. Several funds assessed that at least 90% of Ripple's net asset value is derived from XRP, the cryptocurrency closely tied to the company, Bloomberg reported, adding that Ripple Ripple Ripple was co-founded by Jed ... (full story)
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