Ripple Closes $500M Funding Round at $40B Valuation

Ripple announced Wednesday it closed a $500 million funding round at a $40 billion valuation, CNBC reports. The round was led by funds affiliated with Fortress Investment Group, Citadel Securities, Pantera Capital, Galaxy Digital, Brevan Howard, and Marshall Wace. The financing follows a series of acquisitions as the digital asset infrastructure company expands beyond payments into broader services.