Bloomberg: Ripple Labs Plans to Lead $1 Billion Investment to Build XRP Reserve Strategy

BlockBeats News, October 17th, according to Bloomberg, Ripple Labs is leading a fundraising round of at least $1 billion through a special purpose acquisition company (SPAC) (specific name not yet disclosed) to accumulate its affiliated digital token XRP. The funding will be injected into a newly established digital asset reserve, with Ripple Labs simultaneously contributing a portion of its own XRP.