SBI denies holding $10B in XRP, clarifies it owns 9% of Ripple Labs

Japanese financial giant SBI Holdings has denied rumors circulating in the community that it holds $10 billion worth of XRP, stating that it only owns an approximate 9% stake in Ripple Labs, BeInCrypto reported. SBI Holdings emphasized that the value of its stake in Ripple Labs could be greater, considering the value of the ecosystem Ripple has built. Ripple Labs was valued at around $40 billion in a funding round last November led by firms including Fortress Investment Group.