The report says that the offer is expected to run through April. A person familiar with the matter confirmed the valuation and the start of the share buyback program to Decrypt.
Just a few months later, it’s looking to recoup some of its outstanding equity as it creates a path to a potential $1 trillion valuation—a feat that CEO Brad Garlinghouse recently said he thinks is achievable for the firm.
The token made a new all-time high of $3.56 last July after seven years of trading below $3.00. But since that time, it’s been dragged down considerably alongside the rest of the crypto market, dipping nearly 62% to recently change hands around $1.40.
Nevertheless, the token remains the fifth-largest crypto asset by market capitalization. Ripple too remains one of crypto’s largest firms, having greatly expanded its services and capabilities through major acquisitions in the last year.
