Crypto firm Ripple to buy back $285m of its shares at $11b valuation: report

Crypto firm Ripple to buy back $285m of its shares at $11b valuation: report

FILE PHOTO: A representations of cryptocurrency Ripple is seen in front of a stock graph and U.S. dollar in this illustration taken, January 24, 2022. REUTERS/Dado Ruvic/Illustration/File Photo

Cryptocurrency company Ripple Labs, known for its XRP coins, is buying back $285 million worth of shares in the company from early investors and employees, two sources familiar with the matter told Reuters.