Ripple Labs is reportedly on the cusp of launching a fundraising effort to purchase $1 billion worth of its XRP token to hold in a digital asset treasury, according to Bloomberg.
The fundraiser is being organized through a special purpose acquisition company or SPAC, Bloomberg reported on Friday, citing anonymous people with knowledge of the matter.
The digital asset treasury (DAT) will consist of the freshly bought XRP (XRP) and Ripple will also throw in some of its own stockpile, but the…
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