SBI Holdings Reaffirms Massive Stake in Ripple Despite XRP Price Weakness

SBI Holdings has reaffirmed its massive investment in Ripple, despite the recent price slump of XRP. The Japanese financial services firm holds a stake worth ¥6.6 trillion ($41.2 billion) in the cryptocurrency company.

This announcement comes as part of SBI's first quarter earnings call, where it reported record-breaking revenue and profit growth. However, its cryptocurrency business remains sluggish due to market uncertainty surrounding the CLARITY Act.

The act aims to clarify the regulatory environment for cryptocurrencies in the United States. Senator Cynthia Lummis has expressed hope that lawmakers will vote on the bill before the August recess.