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Ripple Labs initiated a $285 million share buyback, valuing the company at $11.3 billion, amid regulatory uncertainties. On Jan. 10, Ripple Labs, a cryptocurrency company famous for XRP, announced a buyback of $285 million in company shares from early investors and employees, valuing the firm at $11.3 billion. The tender offer allows investors to sell up to 6% of their stake . Confirming the buyback, Ripple disclosed plans to allocate $500 million for the repurchase , covering the conversion of restricted stock units into shares and associated taxes. Ripple to buy back $285 million of its shares, valuing company at $11 bln – sources https://t.co/qK0NXKYRLt pic.twitter.com/maaeoF0TXN — Reuters (@Reuters) January 10, 2024 You might also like: Talk of spot ETF lifts XRP, whales tracking ETH, INJ, and ROE Ripple aims to conduct regular share buybacks to enhance liquidity for investors and has no immediate plans to go public in the U.S., citing regulatory unce...

Chinese virtual bank ZA Bank has revealed plans to offer crypto trading services with fiat currencies to retail customers. In an interview with the Hong Kong Economic Journal, ZA Bank CEO Ronald Iu said the Hong Kong-based company eventually plans to start offering crypto trading services with fiat via its mobile application ZA Bank App, although he did not provide a timetable. The ZA Bank CEO noted that the company is set to double down on web3, as the virtual bank has already provided commercial banking services to over 80 crypto firms, including OKX’s branch in Hong Kong. In addition to OKX, ZA Bank is also a banking partner for local licensed virtual asset trading platforms HashKey and OSL. Since its inception in 2020, ZA Bank has undergone an expansion of its customer base, reaching a milestone where one in ten adults in Hong Kong now owns a ZA Card. Ronald Iu also said that as of the end of June, customer deposits have surpassed 10 billion yuan (~$1.4 billion), marki...

Coinbase has amended its tender offer for 3.625% senior notes due 2031, increasing the cap from $150 million to $180 million and extending the expiration date to Sept. 18, 2023. Coinbase Global, Inc., the world’s second-largest cryptocurrency exchange, announced updates to its Tender Offer for 3.625% Senior Notes due 2031. The company has increased the maximum aggregate purchase price of the notes from $150 million to $180 million and extended the expiration date from Sept. 1, 2023, to Sept. 18, 2023. Payments for accepted notes will be made on Sept. 6, 2023. In an attempt to garner more participation, Coinbase has also adjusted the tender offer’s terms. Holders who have validly tendered their notes after 5:00 p.m., New York City time, on Aug. 18, 2023, but before 11:59 p.m., New York City time, on Sept. 1, 2023, will be eligible for the total consideration which amounts to $675 per $1,000 principal amount of the notes. Accrued and unpaid interest will be paid until the ...

Spain has granted regulatory approval to Ripio, allowing the crypto exchange to provide its customers with a range of crypto currency products as the country establishes itself as a good hub for bitcoin and web3 companies. In another significant development for the cryptocurrency industry, Spain’s regulatory authorities have officially granted Ripio crypto exchange a Virtual Asset Service Provider (VASP) license.  The approval, announced by the company’s CEO, allows Ripio to offer its comprehensive range of cryptocurrency products and services to customers in Spain. This move follows the footsteps of leading exchanges like Bit2Me and Bitpanda, which have already obtained regulatory approval to establish their operations within the country.  Spain‘s commitment to creating a favorable environment for bitcoin (BTC)-linked businesses has gained momentum with the passing of the Markets in Crypto Assets (MiCA) bill in April. Based on the MiCA regulation, Spain ai...