Ripple Hits $50B Valuation After Massive $750M Buyback | CoinDesk Daily

0:00Ripple's new share buyback values the firm at $50 billion dollars and BlackRock launches its staked ETHER ETF. This is Coindesque Daily and Jensenassi. Discover Nexo, the premier digital wealth platform, now in the US. Get started today at nexo.com slashcoindesk. Ripple has begun a share buyback that values the company at about $50 billion dollars. According to a person familiar with the matter, the blockchain payments firm is planning to repurchase up to $750 million dollars in shares from investors and employees through a tender offer expected to run through April. The tender offer officially values the company at a staggering $50 billion dollars, a 25 percent jump from its fundraising valuation just a few months ago. The buyback highlights Ripple's rapid expansion beyond its core XRP ledger network. The company has been on an acquisition spree, snapping at Prime Broker Hidden Road for $1.25 billion dollars and corporate treasury business G Treasury for $1 billion dollars. The $50 billion dollar valuation signals massive internal confidence,

1:04even as the broader crypto markets face pullbacks. And BlackRock is taking crypto-staking to Wall Street. After months of anticipation, the asset managers I share staked Ethereum trust ETF begins training on the NASDAQ today. The fund will hold spot ETHER and stake a portion of those holdings on the network, allowing investors to earn rewards on top of regular price movements. BlackRock's head of equity ETFs, Jay Jacobs, explained that the product is all about investor choice, offering the operational advantages of an ETF without sacrificing the passive income of staking. BlackRock is also waving a portion of its sponsor fee, dropping it to 0.12 percent on the first $2.5 billion dollars in assets. And the SEC and CFTC have released a historic memorandum of understanding the regulators have agreed to combine their supervision, product approvals, and enforcement actions. The agreement also listed the establishment of a fit for purpose regulatory framework as a top goal. SEC Chair Paul Atkins stated that for decades, duplicative regulations between the agencies have stifled innovation and pushed market participants

2:05to other jurisdictions. Under the new leadership appointed by President Donald Trump, the two regulators will now share data seamlessly and coordinate enforcement strategies. That's it for CoinDesk Daily. Get more updates on CoinDesk.com and we'll see you next time. Introducing Nexo, the Premier Digital Wealth platform, earn interest, borrow, and exchange crypto all in one platform. Now in the US, with 30 days of exclusive benefits, start today at nexo.com slash coin desk.