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Ripple Rises with Prime Brokerage Push Amidst Challenges

Guavy AI Editorial Team
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XRP
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Ripple has raised $275 million in senior notes to support its push into prime brokerage.

This move comes as the company faces challenges, including a 50% decline in value for its token XRP and significant cash burn. However, Ripple is shifting focus towards event robots and other areas to ensure survival.

Ripple's CEO has acknowledged that the SEC suit nearly pushed the company to shut down, but it has managed to secure a license in Luxembourg and win a key MiCA approval.

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