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Breaking News : Ripple XRP News Confirmed on CNBC with $200 Million Investment and $10 Billion Valuation
Blockchain firm Ripple raised $200 million in its Series C funding round, the startup announced Friday, bringing its valuation to $10 billion.
The funding round was led by New York investment firm Tetragon and will be used to expedite hiring, Ripple said in a statement.
The firm rose to fame in 2017 when its XRP cryptocurrency shot up in value alongside most digital coins.
XRP rose as much as 4% on the news.
Watch XRP trade live here.
Blockchain firm Ripple announced it raised $200 million in its latest investment round, bringing the company’s valuation to $10 billion. The startup surged to fame in 2017 when its XRP cryptocurrency shot up in value during the digital currency boom. Its Series C funding round was helmed by New York investment firm Tetragon and included backing from Japan-based SBI Holdings and venture capital firm Route 66 Ventures.
“We are in a strong financial position to execute against our vision,” CEO Brad Garlinghouse said in a statement. “As others in the blockchain space have slowed their growth or even shut down, we have accelerated our momentum and industry leadership throughout 2019.”
Credit : CNBC Television
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