Ripple rules out IPO after $500M raise at $40B valuation, citing investor backing

Ripple will remain private despite a $500 million fundraising at a $40 billion valuation that added Fortress Investment Group and Citadel Securities to its cap table. President Monica Long said the firm can fund growth through strategic investors and its balance sheet; earlier in 2025, Ripple completed a $1 billion tender offer at the same valuation.