TechFlow news — Ripple Labs, the cryptocurrency company, plans to repurchase $285 million worth of shares at a valuation of $11.3 billion, according to Reuters.
The buyback targets early investors and employees, with each investor allowed to sell up to 6% of their shares. This tender offer aims to fund the conversion of restricted stock units. R
ipple intends to conduct regular share buybacks to provide liquidity and has no plans for a U.S. listing in the near term due to regulatory uncertainty.
The company currently holds over $1 billion in cash and more than $25 billion in crypto assets, primarily XRP tokens.
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