Ripple raises $500M from Wall Street at $40B valuation, offering investor exit rights

In November, Ripple raised $500 million from major Wall Street firms at a $40 billion valuation in a deal linking investor outcomes to the company’s XRP holdings and future exit events. The structure gives investors options to sell shares back to Ripple after three or four years at annual returns of 10% or 25%, and buyback obligations could reach about $732 million. With XRP down from its mid-July peak, Ripple has continued acquisitions and share repurchases while holding off on an IPO.