![]() Ripple is "not in any hurry" to do an IPO, and has around $1 billion of cash on its balance sheet, Garlinghouse said. Ripple has rejected the charges, saying the token is a currency and does not need to be registered as an investment contract. Securities and Exchange Commission (SEC), charged with conducting a $1.3 billion unregistered securities offering. In December 2020, Ripple was sued by the U.S. Privately-owned Ripple last year expressed interest in acquiring assets including from bankrupt lender Celsius. More than half of the $250 million acquisition was paid for in cash, and the rest in equity, Ripple said. Ripple is the world's sixth largest cryptocurrency, with around $23 billion of the coin in circulation, according to market tracker CoinGecko. "The rules of the road in other markets compared to the United States are clear and it's that clarity of rules that allows companies to invest," he said. The latest price moves in bitcoin (BTC) and crypto markets in context for May 18, 2023. Latest news on XRP, a cryptocurrency created by the company Ripple. Messari Report Shows XRP Outpaced the Overall Crypto Market, Surging by 55 QoQ The Crypto Basic 09:35 19-May-23. employees, added to the appeal of the company. XRP gained after Hong Kong CBDC announcement by issuer Ripple. XRP Defies Market Sentiment With 3 Increase, BTC Drops Below 27K (Market Watch) 09:48 19-May-23. regulators step up enforcement actions against crypto firms, Garlinghouse said that Metaco being based in Switzerland, with non-U.S. ![]() "If ultimately you're solving a clear problem at scale for these customers, there's going to be demand there."Īs U.S. you're not really subject to the same gyrations of the crypto winters," he said. Ripple CEO Brad Garlinghouse said he expected increased demand from institutional investors for crypto custody services. BT Group, one of the biggest telecom companies in the U.K., said it was reducing its workforce by as much as 42, or about 55,000 workers, by the end of the decade. The S&P 500 and the Nasdaq Composite also each ended up more than 1. short term, analyst are watching to see if the EMA10 and EMA20 hold up. Investors have become increasingly cautious about where and how crypto assets are stored, after crypto platforms freezing withdrawals left them facing large losses. The Dow industrials rose 1.2, or more than 400 points. The stock price of MoneyGram has skyrocketed following news Ripple will invest. Investor interest in crypto assets has cooled following a drop in cryptocurrency prices in 2022 and series of collapses at major crypto firms, including U.S. Its clients include Citi, BNP Paribas, and Societe Generale's digital asset arm. Metaco makes technology which allows financial institutions to store and manage digital assets. crypto firm Ripple has bought Switzerland-based crypto custody firm Metaco for $250 million, in its first major acquisition, Ripple said on Wednesday.
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