VivoPower Receives Backing from Saudi Royal Family, Secures $121 Million Funding to Launch XRP Strategic Reserve

BlockBeats News, May 29th, according to CoinDesk, Nasdaq-listed energy company VivoPower (Nasdaq: VVPR) has reached a $121 million private equity financing agreement to build an XRP-focused digital asset treasury strategy. The funding will be led by Saudi royal family member Abdulaziz bin Turki Abdulaziz Al Saud, with former SBI Ripple Asia executive Adam Traidman serving as Chairman of the Advisory Board.

Source

Correction/Report

RelatedRecommended

XRP Up 3x in a Week, How to Hype the Ecosystem Meme?

Meme Coins in the XRP Ecosystem are attracting inflows of funds, with high volatility bringing both opportunities and risks. This speculative frenzy may indeed propel XRP's rise.

Grayscale Announces It Will Disband XRP Trust Fund

The promoters have liquidated the trust's XRP and the trust will terminate upon distribution of net cash proceeds.

One billion XRPS have been unlocked from the Ripple managed wallet

Sources: Galaxy Digital and Jump Trading have stopped making markets for XRP

The Bitwise 10 Crypto Index Fund will liquidate its XRP holdings.

Jed McCaleb is putting XRP on hold, or being affected by Ripple lawsuit

On-Chain Activity