Ripple raises $500M at $40B valuation

Ripple has secured a $500 million strategic investment at a $40 billion valuation, led by funds managed by affiliates of Fortress Investment Group, Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard and Marshall Wace. The deal follows Ripple’s $1 billion tender offer earlier this year, underscoring institutional confidence in its expansion beyond payments into custody, stablecoins, prime brokerage and treasury management. Chief executive officer Brad Garlinghouse said the move marks “furt ...