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Ripple Completes $500 Million Funding Round, Led by Galaxy Digital
BlockBeats News, November 5th, according to CNBC, digital asset and infrastructure company Ripple stated on Wednesday that it has completed a $500 million financing round, bringing the company's valuation to $40 billion. This financing round took place after a series of acquisitions by the company, and its product line is also expanding from a single payment to a wider range of services.
Industry insiders believe that with Donald Trump's election as U.S. President and the landmark stablecoin regulation GENIUS Act passing, the U.S. environment is becoming more favorable to crypto and digital asset companies, which are trying to seize this opportunity to accelerate their development.
Ripple has a close relationship with the cryptocurrency XRP, and the company stated that this financing round was led by funds managed by the following institutions: Fortress Investment Group affiliates, Citadel Securities affiliates, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace.
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