Ripple is raising $1 billion through a SPAC to buy and hold more XRP tokens
The post Ripple is raising $1 billion through a SPAC to buy and hold more XRP tokens appeared on BitcoinEthereumNews.com. Ripple Labs is raising $1 billion to fill up a new crypto war chest with more XRP, even as most of the market is still wrecked from last week’s meltdown. The company is creating what it calls a digital-asset treasury, or DAT, which will be stacked with XRP. The money will come through a SPAC deal, and Ripple also plans to put in some of its own XRP tokens, according to a report by Bloomberg. This plan hasn’t been finalized yet.A few details, including Ripple’s full contribution and the structure of the fundraising, are still being discussed. But the end goal is clear: Ripple wants to bulk up its XRP reserves fast and on its own terms, while the industry is still struggling to recover. Ripple buys GTreasury, pushes ahead with SPAC while markets drop The fundraising comes just days after a market crash that triggered massive liquidations. The sell-off, which was worsened by the growing U.S.–China trade tensions, caused serious panic across altcoins. Even Bitcoin dropped more than 3% on Thursday, showing the market isn’t done bleeding. That hasn’t stopped Ripple from moving forward. If the plan works, this would be the largest XRP-focused treasury ever created. At the same time, Cryptopolitan reported on Thursday that Ripple is buying GTreasury for $1 billion. GTreasury is a company that builds tools for finance teams to manage crypto holdings like stablecoins, tokenized deposits, and other assets. Ripple said the deal will help it work more closely with corporate treasurers who want better crypto infrastructure. Still, investors don’t seem too excited about DATs lately. Shares of big crypto-holding firms like Strategy Inc., run by Michael Saylor, and Metaplanet in Japan have dropped sharply in recent months. Most people are backing off after watching Bitcoin and altcoins get hammered. That makes Ripple’s timing…
The post Ripple is raising $1 billion through a SPAC to buy and hold more XRP tokens appeared on BitcoinEthereumNews.com.
Ripple Labs is raising $1 billion to fill up a new crypto war chest with more XRP, even as most of the market is still wrecked from last week’s meltdown. The company is creating what it calls a digital-asset treasury, or DAT, which will be stacked with XRP. The money will come through a SPAC deal, and Ripple also plans to put in some of its own XRP tokens, according to a report by Bloomberg. This plan hasn’t been finalized yet.A few details, including Ripple’s full contribution and the structure of the fundraising, are still being discussed. But the end goal is clear: Ripple wants to bulk up its XRP reserves fast and on its own terms, while the industry is still struggling to recover. Ripple buys GTreasury, pushes ahead with SPAC while markets drop The fundraising comes just days after a market crash that triggered massive liquidations. The sell-off, which was worsened by the growing U.S.–China trade tensions, caused serious panic across altcoins. Even Bitcoin dropped more than 3% on Thursday, showing the market isn’t done bleeding. That hasn’t stopped Ripple from moving forward. If the plan works, this would be the largest XRP-focused treasury ever created. At the same time, Cryptopolitan reported on Thursday that Ripple is buying GTreasury for $1 billion. GTreasury is a company that builds tools for finance teams to manage crypto holdings like stablecoins, tokenized deposits, and other assets. Ripple said the deal will help it work more closely with corporate treasurers who want better crypto infrastructure. Still, investors don’t seem too excited about DATs lately. Shares of big crypto-holding firms like Strategy Inc., run by Michael Saylor, and Metaplanet in Japan have dropped sharply in recent months. Most people are backing off after watching Bitcoin and altcoins get hammered. That makes Ripple’s timing…
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