Ripple announced it had repurchased shares distributed in a December 2019 Series C funding round which raised $200m and valued the business at $10bn. The move comes after the company’s “most successful year to date” with Ripple insisting it is in a robust financial position despite headwinds from its ongoing legal battle with US financial regulator, the SEC.
Ripple has raised $200 million in a Series C funding round led by Tetragon.
The SEC filed a $1.3 billion lawsuit against Ripple Labs.
Investors lost the lawsuit against Ripple, the tech company bought their shares.