- Mr. Huber said Ripple’s share buyback was to help bypass U.S. regulations.
- The crypto sleuth said U.S. banks will be able to take up more ownership shares in the blockchain firm.
- Ripple disclosed it has no plans to IPO in the US and will continue buying back shares regularly.
In a recent tweet on social media platform X, renowned XRP advocate Mr. Huber explained why Ripple’s share buyback is a strategic move by the company.
Mr. Huber’s clarifications came in response to cryptocurrency YouTuber “Jungle Inc. Crypto” comments following the buyback announcements. While the YouTuber criticized the sale and called it a sign of distress, Mr. Huber explained it was to help Ripple bypass U.S. regulations.
The crypto sleuth stated that the share buyback will enable more banks to increase their ownership in Ripple. “How else can Ripple disguise all major investors while giving 50% of their ownership to the 20 banks that are now part of this?” Mr. Huber tweeted.
Yesterday, Reuters reported the blockchain firm was buying back $285 million worth of shares in the company from early investors and employees. As noted in that report, Ripple confirmed the…
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