Ripple has bought back shares from its Series C funding round, which raised the companyās valuation to $15 billion, according to CEO Brad Garlinghouse. He added that despite the lawsuit by the U.S. Securities and Exchange Commission (SEC) over the status ofĀ XRPĀ cryptocurrency, Ripple had the best year on record.
Rippleās $15 Billion Valuation and āBest Year on Recordā
Ripple CEO Brad Garlinghouse announced via Twitter Wednesday that Ripple has bought back its Series C shares at a $15 billion valuation.
The CEO described that āEven with 2021ās headwinds, it was our best year on record,ā adding that Rippleās financial position is the strongest it has ever been, with $1 billion dollars in the bank.
In December 2019, the company raised $200 million in the Series C funding round, led by Tetragon. SBI Holdings and Route 66 Ventures also participated. According to reports, the companyās valuation was $10 billion after the Series C funding round.
Noting that āslow downā is not in Rippleās vocabulary for 2022, Garlinghouse proceeded to explain the progress of Ripplenet and Ripplex in follow-up tweets Wednesday.
Regarding Ripplenet, he said that the network has a volume run rate of more than $10 billion today. In addition, Ripplex is āestablishing a multitude of capabilities to theĀ XRPledger ā NFTs, CBDCs, interoperability bridges, sidechains, and so much more,ā the executive explained.
In December, Garlinghouse similarly said that Ripple had theirĀ strongest year everĀ despite the ongoing lawsuit brought by the U.S. Securities and Exchange Commission (SEC) over the status ofĀ XRPĀ cryptocurrency.
The SEC filed the lawsuit against Ripple Labs, Garlinghouse, and co-founder Chris Larsen in December 2020 alleging that the sale ofĀ XRPĀ was an unregistered securities offering. Garlinghouse believes that the lawsuitĀ will concludeĀ this year.