IEditor’s note: the story has been corrected to clarify that affiliates of Citadel Securities were involved in the funding round.
Ripple’s $500 million capital raise in November, completed at a $40 billion valuation, has drawn significant interest across Wall Street, marking the highest valuation ever achieved by a private crypto company.
What Happened: The funding round attracted heavyweight traditional finance names including affiliates of Citadel Securities, Fortress Investment Group, Marshall Wace, Brevan Howard, Galaxy Digital, and Pantera, but the investment came with unusually tight safeguards.
According to Bloomberg, these projections indicate that although institutional appetite for crypto is growing, major firms still remain cautious amid market volatility and regulatory uncertainty.
Key …
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