Ripple Raises $1 Billion for New XRP-Focused Treasury

Ripple Labs is embarking on a substantial fundraising effort, aiming to raise at least $1 billion to establish a dedicated digital-asset treasury. This fund will primarily house XRP, the company’s token closely tied to its operations. To achieve this goal, Ripple has decided to leverage a special-purpose acquisition company (SPAC), a common vehicle for taking firms public or funding large projects.