Ripple’s Valuation Surges To $40 Billion

Blockchain firm Ripple Labs has seen its valuation rise to $40 billion following a $500 million funding round, according to CNBC. The round included participation from Galaxy Digital. Ripple’s recent acquisitions, including treasury management firm GTreasury, have contributed to this growth.

During the recent Swell event, Ripple CEO Brad Garlinghouse stated the company’s focus is on bridging the gap between cryptocurrency and traditional finance. He highlighted the firm’s aggressive acquisition strategy, describing it as an effort to connect decentralized and centralized financial systems.

“We have aggressively leaned in and made multiple multi-billion dollar acquisitions… we’ve always tried to be that bridge between a decentralized financial world and the centralized or traditional financial world,” Garlinghouse said in a recent CNBC interview.

However, Garlinghouse acknowledged the difficulties institutions face in adopting cryptocurrency due to a lack of regulatory clarity. He expressed hope for the passage of market structure legislation, which would define digital assets and securities.

The high-stakes market structure bill remains stalled in the Senate, with analysts suggesting the likelihood of its passage this year is diminishing.

Garlinghouse believes the legislation will offer crucial clarity for the industry and facilitate broader institutional adoption of digital assets.

Ripple’s continued expansion and valuation growth position it as a significant player in the evolving crypto landscape, despite regulatory hurdles.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility.