SBI Stands Firm on Ripple Investment Despite XRP Weakness
SBI Holdings has reaffirmed its commitment to Ripple, valuing its stake at $41.2 billion despite the recent slump in XRP prices.
The Japanese financial group reported a ¥1.4 billion pretax loss from its cryptocurrency business during the first quarter, although market maker B2C2 remained profitable.
SBI cited a ¥6.6 trillion valuation for its Ripple shareholding and attributed the muted operating environment to uncertainty over the US Senate's passage of the CLARITY Act.