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Japanese banking giant SBI Holdings has issued a statement regarding the $XRP allegations made against it.
Accordingly, SBI denied claims that it held $10 billion worth of $XRP and stated that it only owned 9% of Ripple Labs.
SBI Holdings CEO Yoshitaka Kitao clarified the claim made by a user named “Ledger Man (@strivex_)” that SBI is a large holder of $XRP.
Yoshitaka Kitao, stating that the company holds a 9% stake in Ripple Labs, refuted speculation that it owns $10 billion worth of $XRP. Kitao clarified that the company’s primary focus is Ripple Labs, not $XRP.
“We don’t own $10 billion worth of $XRP, but rather approximately 9% of Ripple Labs.”
So our hidden entity might be something much bigger.
Considering the total value of Ripple Labs and the ecosystem that Ripple has created, our share could be even larger.”
With this statement, the CEO emphasized that SBI Holdings does not directly own $XRP, but supports Ripple through its significant stake and partnership.
Ripple Labs reached a valuation of approximately $40 billion last November in a $500 million funding round led by Fortress Investment Group and Citadel Securities.
According to this valuation, SBI Holdings’ 9% stake is worth approximately $3.6 billion.
*This is not investment advice.