Report: Ripple said to lead $1 billion XRP treasury raise

The planned vehicle would be the largest XRP-focused digital asset treasury yet, even as investor appetite for token accumulation stocks has weakened after the recent crypto selloff. What to know : Ripple Labs is seeking to raise at least $1 billion via a special purpose acquisition company to create a public-market vehicle that will accumulate XRP. The proposed XRP-focused digital asset treasury, to which Ripple would contribute some of its own holdings, would be the largest known XRP treasury vehicle if completed. The plan will test whether there is sufficient institutional demand for XRP amid a cooling market for digital asset treasury companies that previously focused largely on bitcoin.(Coindesk)