Mentioned:
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Two of the biggest companies on Wall Street are leading a massive financing round into Ripple. But, why?

What’s happening:

  • Ripple has raised $500M USD in a new equity financing round

By the numbers:‍

  • The new funding round values Ripple at roughly $40B USD

Why it matters:‍

  • The new round was led by Ken Griffin’s Citadel Securities and Fortress Investment Group

Going deeper:‍

  • Ripple has publicly stated they plan to use the new infusion of cash to continue to scale up their operations in payments and stablecoins, as well as to pursue new potential acquisitions
  • Multiple other notable crypto investors also participated in Ripple’s new capital raise, including Pantera Capital, Brevan Howard and Galaxy Digital (NASDAQ: GLXY)

The intrigue:‍