report <\/a>from Bloomberg, Ripple plans to repurchase up to $750 million in shares from both investors and employees. The plan is set to run through April, as disclosed by sources familiar with the situation.\u00a0<\/p>\nThis new buyback effort follows a previous attempt in September, when Ripple aimed to buy back $1 billion worth of shares. However, that initiative fell short, as the company\u2019s participation rate was notably low compared to earlier rounds of tender offers.\u00a0<\/p>\n
During that attempt, Ripple had valued the company at $40 billion but struggled to attract interest from current shareholders, suggesting that many were reluctant to part with their stakes in what they believed to be a promising venture.<\/p>\n
Despite the recent buyback news, the blockchain payment company has consistently maintained that it has no plans to take Ripple public in the United States.\u00a0<\/p>\n
Meanwhile, a growing number of crypto firms, including giants such as Circle (CRCL) and Gemini (GME), have launched their own initial public offerings (IPOs) in the US over the past year, amid a notable shift toward a pro-crypto environment among regulators.\u00a0<\/p>\n
XRP Price Sees Minor Recovery<\/h2>\n
In connection with the buyback announcement, XRP, Ripple\u2019s associated digital asset, experienced a slight rebound, reaching approximately $1.39 at the time of writing.\u00a0<\/p>\n
However, the fifth-largest cryptocurrency by market capitalization continues to face challenges in all time frames, recording losses between 4% and 5% over the past seven to fourteen-day period, respectively.<\/p>\n
Featured image from OpenArt, chart from TradingView.com\u00a0<\/p>","protected":false},"excerpt":{"rendered":"
Blockchain payments giant Ripple has initiated a share buyback program that positions the company at a substantial valuation of $50 billion.\u00a0 Ripple Revives Share Buyback Effort\u00a0 According to a Wednesday report from Bloomberg, Ripple plans to repurchase up to $750 million in shares from both investors and employees. The plan is set to run through […]<\/p>\n","protected":false},"author":0,"featured_media":141486,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-141485","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/141485"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=141485"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/141485\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/141486"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=141485"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=141485"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=141485"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}