Reported 13 days ago
Ripple Labs is reportedly seeking to raise at least $1 billion through a special-purpose vehicle to increase its XRP holdings, as revealed by Bloomberg. This fundraising, using a special purpose acquisition company (SPAC), comes at a critical time for the digital asset industry following a recent market downturn. Despite the volatility, Ripple plans to continue its long-term strategy, including a $1 billion acquisition of GTreasury, indicating a push to stabilize XRP's supply dynamics in the face of market challenges.
Source: YAHOO