Ripple valued at $50B as it transforms into a conglomerate via acquisitions

Despite Ripple's (XRP) token price being down more than 60% from its all-time high, the company's financial outlook appears stronger than ever, DL News reported. The company achieved a $50 billion valuation after buying back $750 million in shares from employees and shareholders, a figure nearly double that of USDC issuer Circle. Ripple is diversifying its business, having spent approximately $2.5 billion last year on acquisitions including Hidden Road, Rail, GTreasury, and Palisade. Eliézer Ndinga, head of global research at 21Shares, noted that Ripple is positioning itself as a conglomerate with various subsidiaries. He pointed out, however, that accurately assessing the company's value is difficult without at least a gross revenue metric, which is not currently available.