SBI Holdings Holds Firm on $41.2 Billion Ripple Valuation Amid Crypto Market Uncertainty

SBI Holdings has reaffirmed its valuation of Ripple at approximately $41.2 billion in its first-quarter earnings report, despite the decline in XRP prices and a sluggish crypto market.

The company reported a significant increase in net profit to ¥148.1 billion, a 149.9% rise from the previous year, although its crypto asset business posted a pretax loss of ¥1.4 billion.

SBI attributes the slow pace of the crypto market partly to uncertainty surrounding the U.S. Senate's pending CLARITY Act, which could clarify regulatory oversight for digital assets.

Despite this, SBI is expanding its presence in the digital asset space through partnerships with the Canton Network and a new ¥3 billion crypto fund, demonstrating its long-term commitment to blockchain and crypto investments.